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Adobe up after-hours following earnings

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Yahoo Finance's Jared Blikre joined Yahoo Finance Live to break down the key takeaways from Adobe's quarterly earnings report.

Video Transcript

SEANA SMITH: We need to get to some earnings reports that are out. Adobe is out with its results. The stock moving higher after hours. Jared, what do you have?

JARED BLIKRE: The stock's moving up after it beat on both its top and bottom lines and also raised guidance. So here are the numbers for the second quarter. Adjusted EPS coming in at $3.03. Estimate was lower, at $2.82. Revenue, $3.84 billion. That's up 23% year over year. Estimate was for lower, $3.73 billion, a little bit lower, so a small beat there. Subscription revenue-- that's one of the big ones-- $3.5 billion, up 22% itself. Estimate was for slightly lower, $3.45 billion.

And then also getting to some other numbers, R&D expenses, $612 million. That's up 15% year over year. So spending to develop new products. Document cloud ARR, $1.68 billion. That's up 35% year over year. Estimate was for $1.67 billion.

And then finally, their third quarter forecast. They see adjusted EPS of $3.00. The estimate was for lower, $2.90. So all around, pretty good numbers for Adobe and the stock is reflecting it now in after hours trading.

SEANA SMITH: All right, Jared. Thanks so much. The stock up 2.4%.