FMP

FMP

Enter

Adobe Plunges 14% on Weak Outlook

- (Last modified: Mar 16, 2024 1:15 AM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Adobe Systems (NASDAQ:ADBE) shares dropped more than 14% intra-day today after it released guidance for the current quarter that fell short of expectations regarding a crucial revenue metric, sparking concerns over increasing competition affecting its growth trajectory.

For the fiscal second quarter, Adobe has set a target for digital media net new revenue, at $440 million, which is below the approximately $460 million expected by analysts. The company has forecasted adjusted earnings per share (EPS) to be between $4.35 and $4.40, with revenue projections ranging from $5.25 billion to $5.30 billion. These figures compare less favorably with analyst predictions of $4.39 in EPS and $5.31 billion in revenue.

This subdued forecast comes despite Adobe posting fiscal first-quarter results that exceeded analyst expectations, with an EPS of $4.48 on revenue of $5.18 billion, against forecasts of $4.38 in EPS on $5.14 billion in revenue.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title

May 27, 2024 3:30 PM - Rajnish Katharotiya

The best 5 GPU stocks other than NVDA

In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep