Adobe earnings set to highlight Figma deal, potential for 2023 growth
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Adobe (NASDAQ:ADBE) is set to wrap up the latest round of tech-sector earnings reports when the digital media company delivers its fiscal fourth-quarter results after Thursday's market close.
Wall Street analysts estimate the Adobe (ADBE) will report a profit of $3.50 a share, excluding one-time items, on $4.53B in revenue. During the same period a year ago, Adobe (ADBE) earned $3.20 a share, on revenue of $4.11B.
Many investors are expected to key in on anything Adobe (ADBE) has to say about its $20B acquisition of collaborative design platform company Figma. Adobe (ADBE) announced its plans to acquire Figma in September, but that, and a middling business outlook, hit the Adobe's (ADBE) shares, and the stock has fallen 9% over the last three months.
Mizuho analyst Gregg Moskowitz said that Adobe (ADBE) remains "well-positioned to benefit from digital transformation" due to its reputation and multiple offerings. However, Moskowitz said that Adobe (ADBE) has shown "fundamental choppiness over the past several quarters" and could experience more pressure in "an increasingly challenging" should the economic environment turn negative. Moskowitz also the Figma deal "will likely serve as an overhang for a while" on Adobe's (ADBE) stock.
Seeking Alpha author Geoff Considine said that recent gains in Adobe's (ADBE) stock, which have trimmed its overall decline since the Figma deal announcement, imply that Adobe (ADBE) is on track to making more headway in the months ahead.