Adobe Stock Jumped After CEO Said It's 'Better Positioned' Today Than Ever Before

Adobe's (ADBE) Q1 results were announced on March 15, 2023. Revenues came in strong at $4.655 billion, $40 million above expectations, and an increase of 9% YoY. Non-GAAP EPS came in at $3.80, beating expectations by $0.12, and up 12.8% over the same period last year.

Q2 guidance for revenue is in the range of $4.75 billion to $4.78 billion, versus estimates of $4.76 billion. Q2 earnings are expected to be between $3.75 and $3.80 per share. The software giant sees FY 2023 adjusted earnings in a range of $15.30 to $15.60 per share, versus estimates of $15.31 per share.

Looking at longer-term CAGR numbers, Adobe has been demonstrating a very respectable 15yr CAGR in revenues of 12%, and EPS of 15%. The stock has been hovering in a rather wide range of $290-$450 a piece, outperforming main broad market benchmarks. At the moment, it is trading close to $334 and ready to resume its hike towards the price ceiling of the boundary range.