Adobe Shares Rise Before Earnings Beat and The Trade Desk Shares Rise After 10-for-1 Stock Split
On Thursday, shares of Adobe leaped, closing up 1.48%.
Shares of the Computer software company rose before the company reported strong Q2 earnings.
Adobe reported earnings of $3.03 per share on $3.84 billion in revenue. Wall Street analysts were expecting earnings of $2.81 per share on $3.73 billion in revenue. Revenue from Digital Media was $2.79 billion, up 25% year over year. This includes $2.32 billion in creative income, up 24%, and $496 million in document cloud revenue, up 30%.
Adobe expects revenue of $3.88 billion and earnings of $3 per share in the fiscal third quarter, higher than analyst’s expectation of $3.83 billion on $2.89 per share.
Shares of Adobe have risen nearly 11% this year.
The Trade Desk
On Thursday, shares of The Trade Desk rose, climbing 5.29%.
Shares of the programmatic advertising company rose after the company performed a 10-for-1 stock split.
The Trade Desk performed a 10-for-1 stock split, meaning shareholders would get an additional nine shares for every share they have owned as of June 9. TTD began trading on a split-adjusted basis Thursday after transferring the additional shares into investors’ brokerage accounts. Since announcing the stock split five weeks ago, shares of TTD have gained 20%.
Shares of The Trade Desk have fallen nearly 23% this year.
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