Adobe Maintains 4Q Outlook, Issues Targets for FY23
19 October 2022 - 8:01AM
Dow Jones News
By Denny Jacob
Adobe Inc. on Tuesday maintained its fourth-quarter guidance and
issued preliminary financial targets for fiscal 2023.
The software maker said the fiscal-year targets don't reflect
its planned acquisition of Figma, a cloud-based collaboration and
productivity platform.
The company guided for total revenue between $19.1 billion and
$19.3 billion and adjusted earnings per share of $15.15 to $15.45
for the year.
Analysts polled by FactSet expected revenue of $19.85 billion
and adjusted earnings per share of $15.52 for fiscal 2023.
Adobe also forecast digital media net new annual recurring
revenue of $1.65 billion, digital media segment revenue between
$13.9 billion and $14 billion, digital experience segment revenue
between $4.93 billion and $5.03 billion, and digital experience
subscription revenue between $4.38 billion and $4.43 billion.
Adobe previously guided for revenue of $4.52 billion and
adjusted earnings per share of $3.50 in the fourth quarter.
Shares edged higher in after-hours trading, moving up 2.7% to
$301.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
October 18, 2022 16:46 ET (20:46 GMT)
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