- The ADBE shares climbed around six per cent during the trading hours.
- Adobe's GAAP operating income in Q1 2023 was US$ 1.59 billion.
- Although the stock showed gains on Thursday, carefully evaluating your options is still important.
Shares of Adobe Inc. (NASDAQ: ADBE) ticked up during the trading session on Thursday, March 16, after it posted its financial results for the first quarter of fiscal 2023 and exceeded some analysts' expectations.
ADBE shares climbed around six per cent during the trading hours and closed at US$ 353.29 per share.
Let's see how the software company performed in Q1 2023:
Latest earnings of Adobe
Adobe posted US$ 4.66 billion in revenue for the first quarter of the fiscal year 2023, representing a growth of 9% year over year or 13% in constant currency.
Notably, the company said that its diluted earnings per share amounted to US$ 2.71 on a GAAP basis and US$ 3.8 on a non-GAAP basis.
Adobe's GAAP operating income in Q1 2023 was US$ 1.59 billion; on a non-GAAP basis, it was US$ 2.13 billion. The GAAP net income was $1.25 billion.
Remaining performance obligations (RPO) coming out of the quarter were US$ 15.21 billion. Also, Adobe bought back about 5 million shares during the quarter.
In its financial statement, the company said it generated US$ 3.4 billion in revenue from its Digital Media segment, which includes the Creative Cloud design software bundle. This reflected a growth of 9% year-over-year (YoY).
Meanwhile, the revenue from the Digital Experience segment added US$ 1.18 billion in revenue.
Although the stock registered gains on Thursday, carefully evaluating your options is still important. Research and analysis are crucial in the stock market because they help investors make informed decisions about which stocks to buy or sell.
By doing thorough research and analysis, investors can identify trends, evaluate the financial health of companies, and determine the potential risks and rewards of a particular investment. This helps investors avoid making impulsive or emotional decisions that could lead to losses.
Additionally, research and analysis can help investors stay up-to-date on market news and events that could impact their investments. Overall, research and analysis are essential tools for any investor looking to succeed in the stock market.