Adobe Maintains 4Q Outlook, Issues Targets for FY23

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 [e-mail]

(END) Dow Jones Newswires

October 18, 2022 16:46 ET (20:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.