Adobe lifts profit forecast for fiscal 2023 and beats estimates on quarterly results
Publishing timestamp: 2023-03-15 19:53:01
Summary
Adobe reported better-than-expected fiscal first-quarter results and raised its full-year forecast for income and net new recurring revenue from its Digital Media business. The company's Digital Media segment generated $3.4 billion in revenue, up 9% from the previous year, while its Digital Experience segment contributed $1.18 billion in revenue. Adobe also increased its profit forecast for the 2023 fiscal year and is engaging with regulators in the US, UK, and EU on its pending $20 billion acquisition of design software startup Figma. Adobe shares rose 5% in extended trading following the announcement.
Sentiment: POSITIVE
Keywords: breaking news: earnings, business news, earnings, enterprise, microsoft corp, adobe inc., breaking news: technology, technology, business,
Source: https://www.cnbc.com/2023/03/15/adobe-adbe-earnings-q1-2023.html