Adobe stock fell as much as 5 percent on Thursday after the company reported better-than-expected earnings for the second quarter of its 2018 fiscal year, which ended on June 1. The company will hold a conference call with analysts at 5 p.m. Eastern time.

Here’s how the company performed:

• Earnings: Excluding certain items, $1.66 in earnings per share vs. $1.54 in earnings per share as expected by analysts, according to Thomson Reuters.
• Revenue: $2.20 billion vs. $2.16 billion as expected by analysts, according to Thomson Reuters.

Adobe said in a statement that revenue rose 24 percent year over year. Most of the company’s revenue comes from subscriptions, and that category was up almost 30 percent year to year.

In the quarter the company said that it was acquiring Magento Commerce for $1.68 billion and appointed John Murphy as its new chief financial officer, replacing Mark Garrett. And DocuSign, a company that competes with the Adobe Sign electronic signature product, went public.

Partner conversations suggest that the company executed well in the quarter, Piper Jaffray analysts led by Alex Zukin wrote in a Monday note.

For the Creative Cloud business, which includes tools like Photoshop and Illustrator, international momentum was especially strong, and in the enterprise-focused Experience Cloud business, the tone they picked up on was positive “for the first time in three or four quarters,” they wrote. There was a “softening competing environment” from the likes of Oracle and IBM, they wrote.

With respect to guidance, Adobe said it’s expecting $1.68 in earnings per share, excluding certain items, on revenue of $2.24 billion in the fiscal third quarter. Analysts had expected Adobe to forecast $1.61 in earnings per share, excluding certain items, on $2.23 billion in revenue for its fiscal third quarter, according to Thomson Reuters.

Adobe expects its Digital Media business segment — which delivers around 70 percent of its revenue — to grow around 25 percent year over year in the fiscal third quarter. The FactSet analyst consensus for segment growth was 23.4 percent.

Adobe’s stock is up 47 percent since the beginning of the year.

This is breaking news. Please check back for updates.