• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Here’s how Adobe did in its fourth financial quarter
Investing

Here’s how Adobe did in its fourth financial quarter

by December 15, 2022
by December 15, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Adobe Inc (NASDAQ: ADBE) is trading 6.0% up in extended hours after the cloud company reported strong results for its fiscal fourth quarter.

Adobe stock up on encouraging guidance

Investors are also cheering its current quarter guidance that came in better than expected.

Adobe is forecasting revenue to fall between $4.60 billion and $4.64 billion in Q1 on $3.65 to $3.70 of per-share earnings. In comparison, analysts had called for $4.26 billion and $3.64 a share, respectively.

Its full-year outlook was also roughly in line with Street estimates. According to CEO Shantanu Narayen:

Our market opportunity, unparalleled innovation, operational rigor and exceptional talent position us well to drive our next decade of growth.

Adobe also confirmed that this forecast excludes contribution from Figma – a $20 billion acquisition it expects to complete in fiscal 2023.

Adobe Q4 financial highlights

Net income printed at $1.18 billion versus the year-ago $1.23 billion

Per-share earnings also fell slightly from $2.57 to $2.53

On an adjusted basis, it earned $3.60 as per the press release

Revenue jumped 10% on a year-over-year basis to $4.53 billion

Consensus was $3.50 a share of adjusted EPS on $4.53 billion revenue

Wall Street recommends that you buy Adobe stock as it has upside to $365 a share.

What else was noteworthy?

Other notable figures in the earnings report include Digital Media revenue that went up 10% year-on-year. Revenue from Digital Experience climbed 14% as well.

According to Adobe Inc, its net new digital media ARR (annualised recurring revenue) stood at $576 million – ahead of its forecast. CFO Dan Durn said in the press release:

Adobe’s outstanding financial in fiscal 2022 drove record operating cash flows of $7.84 billion. Strong demand for our offerings, industry-leading innovation and track record set us up to capture massive opportunities in 2023 and beyond.

This tech stock is now down more than 35% year-to-date.

The post <strong>Here’s how Adobe did in its fourth financial quarter</strong> appeared first on Invezz.

You Might Also Like
  • Stocks rally as investors bet Chinese restrictions to loosen, but inflation remains enemy number one
  • European Central Bank says Bitcoin is dead
  • CAC 40 forecast for December 2022
  • Iron Condor Vs. Short Strangle
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Retail Sales Post Broad-based Declines in November
next post
UK retail sales slip 0.4% as households feel inflation pinch

You may also like

What to expect from the retailers this holiday quarter?

November 25, 2022

U.S. army picks Textron over Lockheed Martin for a big...

December 6, 2022

Rite Aid shares tank 20% to an all-time low: explore...

December 21, 2022

Shell share price analysis amid oil market woes

November 28, 2022

Nike stock up 12% on Q2 earnings: should you buy?

December 20, 2022

2022 in the stock market: why it hasn’t been that...

December 7, 2022

This tech stock more than doubled on Friday: here’s the...

December 16, 2022

IDS share price is at risk amid rising Royal Mail...

December 22, 2022

The Impact of Implied Volatility (IV) on Popular Options Trades

March 8, 2024

Amazon Web Services will take a further hit in 2023:...

December 5, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Options Spreads: Put & Call Combination...

    April 19, 2023

    CAC 40 index forecast after S&P...

    December 4, 2022

    Diversification Dos And Don’ts

    February 5, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here