All right, let's talk Adobe. Those shares under pressure off the back of its latest quarterly results and this keeps happening. They beat expectations and the stock sells off. Doesn't matter uh them beating or not. What's the latest here?
All right. Well, we've got Adobe's earnings coming across right now. So, let's flip to those, KG. I'll get you the numbers here. Third quarter EPS coming in at $6.13. Estimate was looking for $6.08.
So, we've got a beat there on EPS. Revenue for their third quarter, 6.76 billion. The estimate was for 6.7, so a slight beat there as well. As we're looking at some of their guidance here, I want to walk through their guidance.
They're raising their fiscal year adjusted EPS guidance to 2445 to 2450 from a previous range of 2435 to 2445. So, a 5 cent increase, but an increase nonetheless. Revenue, they're raising to 26.58 to 26.63 billion.
That's also a very small adjustment, but still an adjustment. First quarter EPS, they're expecting to see between $6.30 and $6.35. That's right in line with the 630 estimate that's at the low end of that range.
Their remaining performance obligations, $22.16 billion. That missed the estimate, and that is likely why we're seeing this move to the downside. We're 1 and 1/3% lower right now.
Their AI first ARR grew more than 150% year-over-year. Monthly active users here, we're looking at 1 billion across creativity and productivity solutions here. And of course, they have their new CEO coming on December 1st.
They announced that last week. Did not get a great response. The street was looking for someone that was coming from the outside, perhaps. But not a huge move to the downside for Adobe. A small move.