Adobe Q4 earnings preview: All eyes on new FY guidance amid challenging macro
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Adobe (NASDAQ:ADBE) is scheduled to announce Q4 earnings results on Thursday, December 15th, after market close.
The consensus EPS Estimate is $3.50 (+9.4% Y/Y) and the consensus Revenue Estimate is $4.53B (+10.2% Y/Y).
Shares of the California-based software company have slumped nearly 50% in the past year, accelerating losses from its mid-September Q3 earnings report and its agreement to buy online design collaboration company Figma for about $20B.

The blockbuster acquisition has been the target of multiple DOJ inquiries since its announcement.
Ahead of the report, analysts have trimmed targets for EPS and revenue 24 and 21 times, respectively. Meanwhile, ADBE has also showed signs of cost cutting, recently joining many tech peers in paring back its company headcount.
Morgan Stanley believes investor sentiment remains cautious with Adobe's shares still underperforming large cap software. However, investors will be looking forward to a conservative FY23 digital media net new annual recurring revenue guidance and management commentary on the durability of digital experience revenue growth and long-term margin expectations.
Wells Fargo also sees a "more positive tone" around the business for Q4, with strength in areas such as AEM, AEP, and Workfront.
On the other hand, Mizuho believes an increasingly challenging macro could worsen the "fundamental choppiness" Adobe has exhibited over the past several quarters, and a lengthy review process and material near-term dilution for the Figma deal will likely serve as an overhang as well for a while.
Over the last 2 years, ADBE has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.