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Adobe (ADBE) Revenue Q1 2023

Adobe CEO Shantanu Narayan attends a media event in Mumbai on May 3, 2017.

Abhijit Bhatrekar | Mint | Hindustan Times | Getty Images

Adobe Stocks rose 5% in extended trading on Wednesday after the software maker released first-quarter results that beat Wall Street estimates and raised full-year forecasts.

Here’s how the company did it:

  • Earnings: Analysts are expecting $3.68 per share, compared to an adjusted $3.80 per share, according to Refinitiv.
  • Earnings: Analysts expected $4.62 billion, according to Refinitiv.

A company said revenue increased 9% in the quarter ended March 3 compared to the same period last year. statementNet income declined slightly to $1.25 billion.

The company’s Digital Media segment, which includes Creative Cloud design software bundles, grew 9% year-over-year to $3.4 billion in revenue, beating the $3.36 billion consensus among analysts surveyed by StreetAccount.

Adobe’s Digital Experience segment, which features Marketo marketing software, generated $1.18 billion in revenue, just above the StreetAccount consensus of $1.17 billion.

Adobe expects second-quarter adjusted earnings per share of $3.75 to $3.80 and revenue of $4.75 billion to $4.78 billion. Analysts surveyed by Refinitiv had expected adjusted earnings of $3.76 per share and earnings of $4.76 billion.

Adobe has raised its earnings guidance for fiscal 2023 and now sees adjusted earnings per share of $15.30 to $15.60 and net new annual recurring revenues from digital media of $1.7 billion. In December, Adobe said it expects adjusted earnings per share for the full year to be $15.15 to $15.45 and Digital Media ARR of $1.65 billion. Analysts surveyed by Refinitiv had expected adjusted earnings per share to be $15.31.

One of our recent acquisitions has paid off with Adobe. Adobe finance chief Dan Durn is getting existing video clients to pay for Frame.io, a video review and approval tool he acquired for $1.24 billion in 2021. , said Adobe finance chief Dan Durn on a conference call with analysts.

Adobe also beat out “single-product competitors” in categories such as analytics and content management in select deals during the quarter, said Anil Chakravarthy, president of the Digital Experience Unit.

during the quarter, microsoft said that Embedding Adobe’s Acrobat PDF engine Edge, the default browser for Windows 10 and 11, and Adobe Said Worked with US, UK and EU regulators to acquire pending design software startup Figma for $20 billion. Shantanu Narayen, CEO of Adobe, said on the conference call.

Excluding after-hours activity, Adobe’s stock is down 1% so far this year, while the S&P 500 index is up 1%.

clock: Adobe is a company we’ve admired for a really long time, says Oakmark’s Bill Nygren

Summarize this content to 100 words Adobe CEO Shantanu Narayan attends a media event in Mumbai on May 3, 2017.Abhijit Bhatrekar | Mint | Hindustan Times | Getty ImagesAdobe Stocks rose 5% in extended trading on Wednesday after the software maker released first-quarter results that beat Wall Street estimates and raised full-year forecasts.Here’s how the company did it:Earnings: Analysts are expecting $3.68 per share, compared to an adjusted $3.80 per share, according to Refinitiv.Earnings: Analysts expected $4.62 billion, according to Refinitiv.A company said revenue increased 9% in the quarter ended March 3 compared to the same period last year. statementNet income declined slightly to $1.25 billion.The company’s Digital Media segment, which includes Creative Cloud design software bundles, grew 9% year-over-year to $3.4 billion in revenue, beating the $3.36 billion consensus among analysts surveyed by StreetAccount.Adobe’s Digital Experience segment, which features Marketo marketing software, generated $1.18 billion in revenue, just above the StreetAccount consensus of $1.17 billion.Adobe expects second-quarter adjusted earnings per share of $3.75 to $3.80 and revenue of $4.75 billion to $4.78 billion. Analysts surveyed by Refinitiv had expected adjusted earnings of $3.76 per share and earnings of $4.76 billion.Adobe has raised its earnings guidance for fiscal 2023 and now sees adjusted earnings per share of $15.30 to $15.60 and net new annual recurring revenues from digital media of $1.7 billion. In December, Adobe said it expects adjusted earnings per share for the full year to be $15.15 to $15.45 and Digital Media ARR of $1.65 billion. Analysts surveyed by Refinitiv had expected adjusted earnings per share to be $15.31.One of our recent acquisitions has paid off with Adobe. Adobe finance chief Dan Durn is getting existing video clients to pay for Frame.io, a video review and approval tool he acquired for $1.24 billion in 2021. , said Adobe finance chief Dan Durn on a conference call with analysts.Adobe also beat out “single-product competitors” in categories such as analytics and content management in select deals during the quarter, said Anil Chakravarthy, president of the Digital Experience Unit.during the quarter, microsoft said that Embedding Adobe’s Acrobat PDF engine Edge, the default browser for Windows 10 and 11, and Adobe Said Worked with US, UK and EU regulators to acquire pending design software startup Figma for $20 billion. Shantanu Narayen, CEO of Adobe, said on the conference call.Excluding after-hours activity, Adobe’s stock is down 1% so far this year, while the S&P 500 index is up 1%.clock: Adobe is a company we’ve admired for a really long time, says Oakmark’s Bill Nygren
https://www.cnbc.com/2023/03/15/adobe-adbe-earnings-q1-2023.html Adobe (ADBE) Revenue Q1 2023

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