Group 1 - Adobe's board of directors has approved a new stock repurchase authorization allowing the company to repurchase up to $25 billion in common stock through March 14, 2028 [1] - The stock repurchase program aims to return value to shareholders, minimize dilution from stock issuances, and reduce share count over time [1] - Adobe's CFO highlighted the company's profitability and cash flows, emphasizing the ability to drive growth and invest in innovation while returning significant capital to shareholders [1] Group 2 - Adobe will host a conference call for its first quarter fiscal year 2024 earnings on the same day at 2:00 p.m. Pacific Time, with earnings documents available on its investor relations website [2] - An Investor Meeting will take place at Adobe Summit 2024 on March 26, 2024, where executives will discuss long-term market opportunities, strategy, and innovation, including artificial intelligence [3]

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>Here are the key points: Total S&P 500 earnings for the first quarter of 2024 are expected to be up +2.2% from the same period last year on +3.5% higher revenues. This follows the +6.4% earnings growth on +3.4% higher revenues in 2023 Q4. As was the case in the preceding two quarters, the Te ...

BRAZIL - 2022/05/20: In this photo illustration, the Adobe Inc. logo seen displayed on a smartphone ... [+] screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Adobe ADBE Inc. scheduled to report earnings after Thursday’s close. The stock hit a record high of $699.54/share in 2021 and, as of this writing, it is currently trading near $581. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers ...

Revenue and Growth - Adobe achieved Q1 revenue of $5.18 billion, representing 11% year-over-year growth (12% in constant currency)[2] - Digital Media segment revenue grew to $3.82 billion, up 12% year-over-year (13% in constant currency)[2] - Document Cloud revenue reached $750 million, an 18% year-over-year growth[2] - Digital Experience segment revenue grew 10% year-over-year to $1.29 billion[3] - Q2 revenue target set at $5.25 billion to $5.30 billion, with Digital Media net new ARR expected at ~$440 million[6] Annual Recurring Revenue (ARR) and Performance Obligations - Digital Media ARR grew to $15.76 billion, with Creative ARR at $12.78 billion and Document Cloud ARR at $2.98 billion[3] - Remaining Performance Obligations (RPO) increased by 16% year-over-year to $17.58 billion[2] Financial Performance and Income - GAAP operating income for Q1 was $907 million, while non-GAAP operating income was $2.47 billion[2] - Net income for the three months ended March 1, 2024, was $620 million, compared to $1,247 million in the same period last year[17] - Non-GAAP operating income for the three months ended March 1, 2024, was $2,467 million, compared to $2,131 million in the same period last year[19] - Non-GAAP net income for the three months ended March 1, 2024, was $2,046 million, compared to $1,746 million in the same period last year[19] - Non-GAAP diluted net income per share for the three months ended March 1, 2024, was $4.48, compared to $3.80 in the same period last year[19] - Non-GAAP diluted net income per share for the second quarter fiscal year 2024 is targeted between $4.35 and $4.40[22] Cash Flow and Share Repurchase - Cash flows from operations in Q1 were $1.17 billion[2] - Net cash provided by operating activities for the three months ended March 1, 2024, was $1,174 million, down from $1,693 million in the same period last year[17] - Adobe repurchased approximately 3.1 million shares during the quarter[2] - Adobe repurchased $2,000 million of common stock in the three months ended March 1, 2024, compared to $1,400 million in the same period last year[17] - Cash and cash equivalents at the end of the period were $6,254 million, compared to $4,072 million in the same period last year[17] Tax Rates and Non-GAAP Measures - GAAP effective income tax rate for the first quarter fiscal year 2024 was 36.0%, while the non-GAAP effective income tax rate was 18.5%[21] - Adobe uses non-GAAP financial measures to evaluate ongoing operations and for internal planning and forecasting purposes[23]

Analyst Estimates for Q1 FY 2024Q4 FY 2023Q1 FY 2023Revenue$5.14 billion$5.05 billion$4.66 billionDiluted EPS$4.37$4.27$3.80Net Income$2 billion$1.96 billion$1.75 billion Key Metrics: Digital Media Revenue Growth Adobe's Digital Media segment posted $3.72 billion in revenue in the fourth quarter, representing 13% year-over-year growth. Jefferies analysts project the Digital Media segment's revenue for the first quarter of 2024 could come in at $3.79 billion, which would represent 11.5% year-over-year gro ...

Adobe’s (ADBE) first-quarter fiscal 2024 results, scheduled to be released on Mar 14, are likely to reflect the strength of its Digital Media segment.Digital Media has been the key driver behind the company’s growth, backed by its Creative family of products and Document Services products.The company’s persistent efforts to strengthen its content management capabilities are expected to have continued driving growth in the Digital Media segment in the to-be-reported quarter.The segment under discussion gener ...

Adobe Inc. (ADBE) is set to report first-quarter fiscal 2024 results on Mar 14.For the fiscal first quarter, the company expects non-GAAP earnings of $5.10-$5.15 per share. The Zacks Consensus Estimate for earnings is pegged at $5.13 per share, indicating growth of 10.3% from the year-ago reported figure.Adobe projects total revenues between $4.35 billion and $4.40 billion. The consensus mark for the same is pegged at $4.38 billion, implying growth of 15.3% from the year-ago reported figure.The company surp ...

Pre-market futures are lower at this hour — not as a reaction to any news ahead of the opening bell for the first trading day of a new week (there is none), but as something of an overhang from Friday’s cooling of bullish impulses. That said, this will be another meaningful week of economic prints and, yes, even more significant earnings reports.Ahead of these details, the Dow is -164 points, the S&P 500 is -18 and the Nasdaq is -237 points. These indices, including the small-cap Russell 2000, are still not ...

The recent Costco (COST) and AutoZone (AZO) quarterly releases kick-started the 2024 Q1 earnings season. We have another four S&P 500 members on deck to report Q1 results this week, including Oracle (ORCL) on Monday, March 11th, and Adobe (ADBE) on Thursday, March 14th.The earnings reports from Costco and AutoZone and this week’s reports from Oracle and Adobe are for their respective fiscal quarters ending in February, which we and other research organizations count as part of the overall March-quarter or Q ...

CNBC's Jim Cramer on Friday guided investors through next week's most important happenings on Wall Street, highlighting Adobe's earnings report, as well as ones from Dollar General and Dollar Tree. He also said it's important to keep an eye on new data scheduled to be released next week that helps measure inflation."You need to keep an eye on the consumer and producer price index numbers next week," he said. "But don't forget to follow individual companies, because it seems like earnings season just never e ...