2024-03-15 16:55:16 ET
Summary
- Adobe Inc. in fiscal Q1 reported record revenue of $5.18 billion, with a 12% growth rate translating to over half a billion in extra sales.
- The creative media industry is difficult to track, making it hard to determine if Adobe is gaining or losing market share.
- Adobe plans to buy back $25 billion of its shares over five years, in line with previous share repurchase programs.
Investment Thesis
Adobe Inc. ( ADBE ) just reported its earnings for the first fiscal quarter (three months ended March 1st), and I think they did well. Revenue stood at a record of $5.18 billion. That's pretty impressive. Now, a 12% growth rate (13% constant currency) might not sound a lot, but that translates to over a half billion in extra sales, which is no small feat....
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Adobe Q1 Earnings: Solid Performance, But Risks Ahead