Adobe Shares Rise 4.8% on Higher FY23 Guidance, Issues 2Q Outlook
15 März 2023 - 09:55PM
Dow Jones News
By Denny Jacob
Adobe Inc. shares rose 4.8% to $349.50 in aftermarket trading
Wednesday after it raised guidance on some of its fiscal 2023
targets and issued its outlook for the second quarter.
The software maker forecast revenue between $4.75 billion and
$4.78 billion and adjusted earnings between $3.75 and $3.80 a share
in the second quarter.
Adobe also forecast digital media net new annual recurring
revenue around $420 million, digital media segment revenue between
$3.45 billion and $3.47 billion, digital experience segment revenue
between $1.21 billion and $1.23 billion, and digital experience
subscription revenue between $1.06 billion and $1.08 billion for
the second quarter.
Adobe guided for adjusted earnings between $15.30 and $15.60 a
share as well as digital media net new annual recurring revenue
around $1.7 billion in fiscal 2023. It previously forecast adjusted
earnings between $15.15 and $15.45 a share and digital media net
new annual recurring revenue around $1.65 billion.
Shares, which closed up 0.1% to $333.61, are down about 21% over
the last 12 months.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 15, 2023 16:40 ET (20:40 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Adobe (NASDAQ:ADBE)
Historical Stock Chart
Von Mai 2023 bis Jun 2023
Adobe (NASDAQ:ADBE)
Historical Stock Chart
Von Jun 2022 bis Jun 2023