By Ben Glickman


Adobe posted higher sales in the fiscal second quarter as interest in artificial intelligence drove new customers to the company.

The San Jose, Calif.-based software provider on Thursday reported a profit of $1.57 billion, or $3.49 a share, in the quarter ended May 31, compared with a profit of $1.25 billion, or $2.82 a share, a year earlier. Analysts polled by FactSet expected a per-share profit of $3.40.

Stripping out certain one-time items, the company posted an adjusted profit of $4.48, ahead of the $4.39 expected by analysts surveyed by FactSet.

Revenue rose 10% to $5.31 billion, beating the $5.29 billion expected by analysts polled by FactSet. The company's remaining performance obligations at the end of the quarter were $17.86 billion.

Chief Executive Shantanu Narayen said the company's approach to artificial intelligence and product delivery were attracting new customers and giving more value to existing customers.

Adobe now expects $21.4 billion to $21.5 billion in revenue for the year, compared with its previous guidance for $21.3 billion to $21.5 billion.

The company expects adjusted per-share earnings of $18 to $18.20 a share, up from its previous outlook for $17.60 to $18 a share. Analysts polled by FactSet are expecting $18 a share in adjusted profit.


Write to Ben Glickman at ben.glickman@wsj.com


(END) Dow Jones Newswires

06-13-24 1647ET