Adobe Q1 Earnings: Revenue Beat, EPS Beat, Soft Guidance, Harnessing 'Power Of AI' And More
Portfolio Pulse from Adam Eckert
Adobe Inc (NASDAQ:ADBE) reported Q1 financial results with an 11% year-over-year revenue increase to $5.18 billion, surpassing estimates. Earnings per share were $4.48, beating the $4.38 estimate. Adobe has exceeded analyst expectations for five consecutive quarters. The company announced a new $25 billion stock repurchase program and provided a slightly softer Q2 revenue outlook than expected, forecasting $5.25 billion to $5.30 billion against a $5.31 billion estimate.
March 14, 2024 | 8:19 pm
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Adobe Inc reported strong Q1 earnings, surpassing both revenue and EPS estimates, and announced a $25 billion stock repurchase program. However, it provided a slightly softer Q2 revenue outlook.
Adobe's strong Q1 performance and the announcement of a significant stock repurchase program are positive signals for investors, indicating confidence in the company's future. However, the slightly softer revenue outlook for Q2 introduces some caution, potentially balancing the stock's short-term trajectory.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100