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Adobe Earnings Edge Estimates

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The company has been building outs its generative AI strategy. The question is when its AI push will start to show up in its financial results.

Adobe posted earnings that were a smidgen better than both guidance and Street estimates, as it continues to make a full-court press to add generative artificial intelligence capabilities across its broad suite of content creation and marketing tools.

For the fiscal third quarter ended Sept. 1, Adobe reported revenue of $4.89 billion, up 10% from a year ago, or 13% adjusted for currency, slightly ahead of the company’s guidance range of $4.83 billion to $4.87 billion, and the Street consensus forecast at $4.87 billion. On an adjusted basis, the company earned $4.09 a share, topping its target of $3.95 to $4 a share, and Street consensus at $3.98. Under generally accepted accounting principles, the company earned $3.05 a share.

“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio,” Adobe CEO Shantanu Narayen said in a statement accompanying the earnings announcement. “The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users.”

 

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