1/4/2024 0 Comments Adobe stock forecast'We're extremely confident about how that continues to be a growth business, and perhaps the pricing impact was overestimated," Narayen said.Īlso in the quarter, Adobe's Firefly generative artificial intelligence features became available in the Photoshop and Illustrator programs for Creative Cloud subscribers. During the quarter Adobe increased the costs of some subscriptions. Analysts polled by LSEG had expected $18 in adjusted earnings per share and $21.73 billion in revenue.Įxecutives continue to look carefully at spending, Anil Chakravarthy, president of Adobe's experience business that includes marketing software, said on a conference call with analysts.Īdobe's CEO, Shantanu Narayen, acknowledged questions about forward-looking recurring revenue the company could derive from subscriptions to the Creative Cloud software bundle. While results for the latest quarters topped estimates, Adobe's guidance for the new fiscal year disappointed Wall Street.Īdobe called for fiscal 2024 earnings per share of $17.60 to $18 on $ $21.3 billion to $21.5 billion in revenue. Net income increased 26% to $1.48 billion, or $3.23 per share, up from $1.18 billion, or $2.53 per share, in the year-ago quarter. Revenue grew almost 12% from a year ago in the fiscal fourth quarter, which ended Dec. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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