A Mixed Bag
Adobe Inc. (ADBE) reported its fourth-quarter earnings on Wednesday, delivering mixed results that fell short of some analysts' expectations. While the company beat earnings and revenue estimates for the quarter, its guidance for the upcoming year fell below consensus.
Revenue: $5.61 billion, exceeding the $5.54 billion consensus.
$4.81 per share, surpassing the $4.66 estimate.
11% year-over-year.
12% and 10%, respectively.
$19.96 billion, a 16% increase.
$2.92 billion.
4.6 million shares.
Narayen highlighted the company's record fiscal 2024 revenue and emphasized the significance of Adobe's cloud platforms in the AI economy.
Revenue: Projected between $23.3 billion and $23.55 billion, below the $23.79 billion consensus.
Expected to range from $20.20 to $20.50, slightly below the $20.55 estimate.
$5.63 billion to $5.68 billion, missing the $5.73 billion consensus.
Lower pricing benefits.
Delayed monetization of generative AI solutions.
Foreign exchange headwinds.
Several analysts adjusted their price targets and ratings for Adobe following the earnings report. Some maintained their bullish outlook, while others expressed concerns about the company's future growth prospects.
At the time of writing, Adobe shares were down 3.47% at $458.18.