Company news: Adobe (ADBE) quarterly results beat analysts’ forecasts

Adobe (ADBE) reported Q4 FY2023 earnings of $4.27 per share (versus $3.60 per share in Q4 FY2022), beating analysts’ consensus estimate of $4.13 per share.

The company’s quarterly revenues amounted to $5.048 bln (+11.6% y/y), slightly beating analysts’ consensus estimate of $5.014 bln.

The company also issued mixed guidance for Q1 FY2024, seeing EPS of $4.35-4.40 versus analysts’ consensus estimate of $4.26 and revenues of $5.10-5.15 bln versus analysts’ consensus estimate of $5.16 bln.

For the full FY2024, Adobe guided to EPS of $17.60-18.00 versus analysts’ consensus estimate of $18.00 and revenues of $21.3-21.5 bln versus analysts’ consensus estimate of $21.73 bln.

ADBE fell to $589.01 (-5.65%) in pre-market trading.