Adobe Quarterly Results Beat Views, Fiscal 2025 Outlook Falls Short
MT Newswires
12 Dec 2024
The software maker's adjusted earnings per share rose to $4.81 in the three months ended Nov. 29 from $4.27 a year earlier, compared with the FactSet-polled consensus of $4.67. Revenue jumped 11% to $5.61 billion, higher than Wall Street's $5.54 billion view.
The digital media segment's revenue rose 12% to $4.15 billion, driven by gains in document cloud and creative sales. Digital experience saw a 10% increase in revenue to $1.4 billion, with subscription gaining 13%.
Adobe expects fiscal 2025 adjusted EPS of $20.20 to $20.50 and revenue of $23.3 billion to $23.55 billion. These ranges would reflect annual growth from fiscal 2024's adjusted EPS of $18.42 and revenue of $21.51 billion, but fall short of consensus views.
Analysts are modeling for $20.52 in fiscal 2025 non-GAAP EPS and $23.78 billion in sales.
For the first quarter, Adobe projected adjusted EPS of $4.95 to $5 on revenue between $5.63 billion to $5.68 billion. The market consensus indicates $4.95 and $5.72 billion, respectively.
Shares were down 7.3% in after-hours activity.
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