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Big Tech Earnings: Adobe, Oracle, Boeing Report Mixed Results

Adobe Beats Expectations, Oracle Tops Estimates

In a mixed bag of earnings reports from major tech companies, Adobe and Oracle both surpassed analyst expectations, while Boeing fell short.

Adobe, the software giant known for its creative suite, reported revenue of $4.43 billion, up 10% year-over-year. This beat consensus estimates by $130 million.

Oracle, the database and software company, also topped expectations. The company reported revenue of $11.8 billion, up 6% year-over-year. This was $190 million higher than analysts had anticipated.

Boeing Disappoints, Stock Falls

On the other side of the spectrum, Boeing reported disappointing earnings. The aerospace giant reported revenue of $16.6 billion, down 10% year-over-year. This missed analyst estimates by $1.1 billion.

The earnings miss sent Boeing's stock tumbling in after-hours trading. Shares were down more than 6% after the report was released.

What These Earnings Reports Mean

These earnings reports provide a mixed picture of the tech industry. Adobe and Oracle are both still growing strongly, while Boeing is struggling. This could be a sign that the tech industry is starting to slow down.

It is also worth noting that these earnings reports come at a time of great uncertainty in the market. The war in Ukraine, rising inflation, and the COVID-19 pandemic are all having an impact on businesses.

Investors should keep these factors in mind when evaluating these earnings reports. It is too early to say whether the tech industry is in for a slowdown. However, these earnings reports do provide some cause for concern.

Additional Insights

• Adobe's growth was driven by continued demand for its Creative Cloud subscription service.
• Oracle's growth was driven by strong sales of its cloud services.
• Boeing's struggles were due to continued problems with its 737 MAX aircraft.
• The tech industry is still facing headwinds from the war in Ukraine, rising inflation, and the COVID-19 pandemic.
• Investors should be cautious when evaluating these earnings reports.

Sources

1. Adobe Beats Estimates, Raises Outlook on Strong Demand for Creative Cloud
2. Oracle beats revenue estimates, driven by cloud revenue
3. Boeing Shares Drop After Earnings Miss on 737 Max Delivery Delay