12/11/2023 0 Comments Adobe stock its secondworst day pastAs for full-year revenue, it is guided at $17.9 billion, also below Wall Street's expectations of $18.16 billion. Fiscal first quarter and full-year guidanceĪdobe expects revenue for the February quarter to amount to $4.23 billion, below Wall Street's $4.34 billion expectation that Refinitiv reported. Considering the hype around digital content creation, many investors were clearly expecting these recent additions to contribute more to Adobe's own organic growth. Over the past year, Adobe has made two acquisitions: Workfront, which is a marketing workflow management outfit and Frame.io, a video collaboration platform. The creative software leader is returning to a 52-week fiscal year. The undergoing fiscal first quarter will last for 13 weeks this year, as opposed to fiscal 2021's 14 weeks as its 2021 calendar included an additional week. contributes slightly above 52% to Adobe's revenue. dollar has been strengthening against various foreign currencies. Unfavorable foreign currency termsįor months now, the U.S. Both figures slightly outperformed guidance, wrapping up 2021 as a great year in which the creative software maker succeeded to forget about its fall from the beginning of the pandemic that was simply caused by uncertainty. Adjusted earnings per share (EPS) were up 14% to $3.20. Fiscal 2021 fourth quarterįor the three months ended on December 3 rd, revenue grew 20% YoY to $4.11 billion fueled by 21% growth in the company's digital media segment. But its stock had its second-worst day in a decade, tanking 10%, which was only topped by the 15% fall last March when COVID-19 started its relentless march across the globe. Last Thursday, Adobe Inc ADBE shares dropped 10% as investors punished the company for lower guidance that the Chairman and CEO Shantanu Narayen blamed on timing and foreign exchange, assuring that the business is as healthy as it has ever been.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |