RBC Capital analysts provided their outlook on Adobe Inc. (NASDAQ:ADBE) ahead of the upcoming Q1/23 earnings report on Wednesday after the market close, expecting the company to step over a reasonable bar to start the year as consumer spending has remained durable and non-hyperscaler digital transformation appears resilient.

While the conversation still revolves around Figma and growing investor interest in generative, the analysts expect the core creative and experience to deliver solid results against reasonable expectations to start the year.

While RBC expects generative to be a major theme at Adobe Max later this month, new updates around Figma are less likely as the company continues to anticipate the deal to close in H2/23.

The analysts expect a slight upside relative to consensus estimates: (1) Digital new media ARR vs. consensus of $376.1 million and guidance of $375 million, (2) total revenue vs. consensus of $4.623 billion and guidance of $4.62 billion, (3) Digital media revenue vs. consensus of $3.36 billion, (4) EPS vs. consensus of $3.68.

Benson Hill Shares Down 26% Since Q4 Earnings Announcement

Published at 2023-03-14 19:04:00

By Davit Kirakosyan

Other News

Seagen Shares Jump 14% on Pfizer’s Acquisition Announcement

2023-03-14 19:06:00

Amedisys Appoints Permanent CEO

2023-03-14 19:00:00

What to Expect From Adobe’s Q1 Results Tomorrow?

2023-03-14 11:21:00