Adobe Sees FY24 Non-GAAP EPS $18.00-$18.20 vs $16.78 Est.; Revenue $21.40B-$21.50B vs $19.98B Est.
Portfolio Pulse from Benzinga Newsdesk
Adobe has announced its financial outlook for FY24, projecting non-GAAP EPS between $18.00 and $18.20, significantly higher than the estimated $16.78. Additionally, the company expects revenue to be between $21.40 billion and $21.50 billion, surpassing the estimated $19.98 billion.
June 13, 2024 | 8:07 pm
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POSITIVE IMPACT
Adobe's FY24 financial outlook is very positive, with non-GAAP EPS and revenue projections significantly exceeding estimates. This strong guidance is likely to boost investor confidence and positively impact the stock price in the short term.
The significant beat in both EPS and revenue projections compared to estimates indicates strong business performance and growth prospects for Adobe. This is likely to result in a positive short-term impact on the stock price as investors react to the optimistic outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100