Technology

Adobe Inc (NASDAQ:ADBE) reported first-quarter financial results Thursday after the market close. Here’s a look at the key metrics from the quarter. Q1 Earnings: Adobe’s first-quarter revenue increased 11% year-over-year to $5.18 billion, which beat the consensus estimate of $5.143 billion, according to Benzinga Pro. The company reported quarterly earnings of $4.48 per share, which beat analyst estimates of $4.38 per share. Adobe has now beaten analyst estimates on both the top and bottom line in five straight quarters, according to Benzinga Pro data. Remaining performance obligations were $17.58 billion at the end of the quarter. Cash flows from operations totaled $1.17 billion in the fourth quarter. Adobe said it repurchased approximately 3.1 million shares during the quarter. The company’s board also authorized a new $25 billion stock repurchase program through March 14, 2028. “Adobe drove record Q1 revenue demonstrating strong momentum across Creative Cloud, Document Cloud, and Experience Cloud,” said Shantanu Narayen, […]

By Jon Swartz Software giant also announces $25 billion share-buyback program Adobe Inc.’s stock dipped more than 8% in extended trading Thursday after the company posted robust quarterly results that highlighted its AI push ahead of its annual developers conference. The company also announced a $25 billion share-buyback program. “We’ve done an incredible job harnessing the power of generative AI to deliver groundbreaking innovation across our product portfolio,” Adobe Chief Executive Shantanu Narayen said in a statement announcing the results. Adobe Summit, the company’s annual confab that has sharpened its focus on generative AI, is scheduled for late March in Las Vegas. Adobe (ADBE) reported fiscal first-quarter net income of $620 million, or $1.36 a share, compared with net income of $1.25 billion, or $2.71 a share, in the same quarter a year ago. Adjusted earnings were $4.48 a share. Revenue climbed 11% to $5.18 billion from $4.66 billion in

Adobe Systems (ADBE) late Thursday reported fiscal Q1 non-GAAP net income of $4.48 per diluted share, up from $3.80 a year earlier. Analysts polled by Capital IQ expected $4.38. Revenue for the quarter ended March 1 was $5.18 billion, up from $4.66 billion a year earlier. Analysts expected $5.15 billion. For Q2, the software company is projecting non-GAAP EPS of $4.35 to $4.40 on revenue of $5.25 billion to $5.30 billion. Analysts polled by Capital IQ are looking for $4.37 and $5.31 billion, respectively. Separately, Adobe said it has authorized the repurchase of up to $25 billion of its shares through mid-March 2028. Adobe shares were dropping nearly 10% in extended trading Thursday.

By Denny Jacob Adobe is scheduled to report its first-quarter results Thursday after the market closes. Here’s what you need to know. NET INCOME: The software maker is expected to post $1.54 billion in net income, up from $1.25 billion a year earlier, according to FactSet. REVENUE: The San Jose, Calif.-based company is expected to post $5.14 billion in revenue for the quarter ended March 1, compared with $4.66 billion in the prior-year period, according to FactSet. Adobe previously forecast revenue between $5.1 billion and $5.15 billion. ADJUSTED EARNINGS: Stripping out one-time items, earnings are expected to come in at $4.38 a share, according to FactSet. The stock price declined about 6.8% during the quarter and recently traded at $580.39. WHAT TO WATCH — Look for fresh details from Adobe following its scrapped $20 billion bid for collaboration-software company Figma. News of the abandoned deal came a few days after

Adobe Systems’ (ADBE) “underperformance” and adjusted AI expectations for fiscal year 2024 are likely to set the bar lower for Q1, Morgan Stanley said in a note emailed Tuesday. With Adobe shares experiencing a decline of around 10% in the last three months, lagging behind the median large-cap software stock by more than 15%, “investor expectations around Adobe’s Gen AI contribution near-term and competitive positioning long-term have been tempered,” Morgan Stanley said. The trajectory of Adobe’s digital media net new annualized recurring revenue for fiscal year 2024, the level of competition, and the potential of AI within Document Cloud are crucial factors that will likely influence the direction of Adobe shares moving forward, the note said. “Heading into Q1 earnings, we see a lower bar after recent underperformance and management walking down revenue contribution expectations for Gen AI and price increase benefits near-term, coupled with commentary on tough comps from