Adobe shares rose after reporting earnings that topped estimates.

Closing Bell

Adobe Shares Jump as Earnings Tops Estimates

Welcome back to closing bell and to the news, everyone. You're taking a look at shares of adobe in the after hours that stock up close to 5% after reporting better than expected earnings in the latest quarter, the stock seeing a pop after the company reported earnings per share of $3.80. The estimate was $3.68 revenue coming in pretty much in line with expectations at $4.6 billion. So we got some more headlines. The company did Provide guidance seems full year earnings per share guidance of $15.30 to $15.60. That is certainly to the upside of analysts forecast of $15.31. So that strong guidance also helping propel the stock. The company does also see current quarter revenue coming in between 4.75 billion to 4.78 billion. And um we do see again that strong guidance helping lift shares in the after hours. So let's take a look at some commentary from the chair and CEO saying Adobe drove record first quarter revenue. We're raising our annual targets based on the tremendous market opportunity and continued confidence in our execution. So certainly a software as a services company, services, the sector does continue to remain strong. Of course, inflation stickiest in the services sector, an adobe benefiting on the back of that better than expected guidance and better than expected quarter.