Investing.com - Adobe (NASDAQ:ADBE) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Adobe announced earnings per share of $2.45 on revenue of $3.13B. Analysts polled by Investing.com anticipated EPS of $2.32 on revenue of $3.16B.
Adobe shares are up 17% from the beginning of the year and are trading at $406.10 , down-from-52-week-high.They are outperforming the S&P 500 which is down 7.03% year to date.
Adobe shares gained 4.67% in after-hours trade following the report.
Adobe follows other major Technology sector earnings this month
Adobe's report follows an earnings beat by NVIDIA on Thursday, May 21, 2020, who reported EPS of $1.8 on revenue of $3.08B, compared to forecasts EPS of $1.65 on revenue of $2.97B.
Cisco had beat expectations on Wednesday, May 13, 2020 with third quarter EPS of $0.79 on revenue of $11.98B, compared to forecast for EPS of $0.71 on revenue of $11.88B.
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