Adobe Sees FY24 Adj. EPS $17.60-$18.00 vs $18 Est., Total Revenue $21.30B-$21.50B vs $21.73B Est.
Portfolio Pulse from Benzinga Newsdesk
Adobe has provided its fiscal year 2024 adjusted earnings per share (EPS) guidance to be between $17.60 and $18.00, which is below the estimated $18. The company also forecasts total revenue to be in the range of $21.30 billion to $21.50 billion, falling short of the estimated $21.73 billion.
December 13, 2023 | 9:07 pm
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NEGATIVE IMPACT
Adobe's guidance for FY24 indicates lower-than-expected adjusted EPS and revenue, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
Adobe's projection of lower-than-expected financial results for FY24 is a significant indicator for investors, often leading to a negative reaction in the stock market. Given that earnings and revenue forecasts are key drivers of stock valuation, the announcement that both are below analysts' estimates could result in a short-term decline in Adobe's stock price. However, the actual impact may vary depending on market conditions, investor sentiment, and other external factors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100