Adobe Reaffirms Q4 Outlook; Issues FY23 Guidance

(RTTNews) - Adobe (ADBE) Tuesday reaffirmed its fourth quarter financial targets and also provided preliminary financial targets for fiscal year 2023.

For the fourth quarter, the company expects adjusted earnings of $3.50 per share, and revenues of around $4.52 billion. Analysts polled by Thomson Reuters currently expect earnings of $3.50 per share and revenues of $4.53 billion.

For the fiscal year 2023, Adobe expects revenues of $19.1 billion to $19.3 billion, earnings of $10.75 to $11.05 per share and adjusted earnings of $15.15 to $15.45 per share.

Adobe's fiscal year 2023 targets do not reflect the planned acquisition of Figma that is expected to close during 2023.

Analysts currently expect earnings of $15.53 per share and revenues of $19.82 billion.