What to Expect from Adobe's Q1 Earnings Report for Fiscal 2024
Adobe ADBE Q1 Earnings Preview
Design software company Adobe Inc. (NASDAQ: ADBE) is preparing to report earnings for the first quarter of fiscal 2024. The company is successfully monetizing its artificial intelligence initiatives after integrating the technology across the platform. In the last quarter, revenues rose to an all-time high, with all operating segments delivering better-than-expected performance.
The Stock
The value of Adobe’s shares has more than doubled in the past one-and-half years, after bouncing back from a multi-year low. The stock made steady gains in the early weeks of the year, but it experienced some weakness recently. Investor sentiment was hurt after the company recently terminated its $20-billion deal to acquire Figma Inc., a cloud-based design platform.
Positive Outlook
When the tech firm reports first-quarter 2024 numbers on Thursday, March 14, after the closing bell, Wall Street will look for adjusted earnings of $4.38 per share, representing a 15% increase from the profit the company generated in the prior-year quarter.
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