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Adobe Inc. (ADBE) reported its fiscal third-quarter results, beating estimates and modestly raising guidance, though its stock has declined by approximately one-third over the past year. The company anticipates a +12% increase in earnings and +9.6% revenue growth for the current fiscal year, while next year projects +12.8% earnings growth on +9.2% higher revenues. In contrast, Oracle Corporation (ORCL) experienced an +81.8% increase in stock value over the past year.
The upcoming earnings reporting cycle for the S&P 500 is set to accelerate, with major banks releasing results starting October 14. This week, five S&P 500 companies, including FedEx, Lennar, and Darden, are expected to report results. Q3 earnings for the S&P 500 index is expected to grow by +5.1%, which would be the lowest growth rate since Q3 2023.
In total, earnings estimates for 5 of the 16 Zacks sectors, including Tech and Finance, have improved since July, countering declines in sectors like Medical and Transportation. The Tech sector is projected to see earnings growth of +12% in Q3, a critical contributor to broader S&P 500 outcomes.
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