Adobe Stock Jumped After CEO Said It's 'Better Positioned' Today Than Ever Before
March 16, 2023
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.
Popular posts
Alibaba’s Earnings vs. China’s Regulatory Actions: Waiting for Stock Reentry Signals
August 4, 2021
Ethereum “London” Change of Protocol: Big Deal or Much Ado About Nothing?
August 6, 2021
Why Robinhood IPO is Highly Contingent on Crypto Market Performance
July 2, 2021