ADBE

December 19, 2018 Summary Adobe reported a quarter with very typical results – better EPS, better revenue growth, and a strong outlook. The shares have been pummeled, down a bit more than 7% since the earnings release. Guidance was perhaps misunderstood and misappreciated. The company is projecting reported non-GAAP EPS lower than the prior consensus.…

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Sep. 25, 2017 Summary Adobe reported the results of its fiscal Q3 about a week ago. Results were another beat in terms of both revenues and earnings. The company indicated that bookings of its Experience Cloud had not achieved planned levels. The company did not raise the outlook for its fiscal Q4. The shares have…

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Nov. 8, 2016 Summary Adobe is the leader in providing creative software to consumers and to enterprises, and it’s a leader in the marketing automation field. The company held its analyst day last week. Takeaways were simply that the company was keeping on, with financials continuing their steady upward cadence. The company’s transition to a…

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September 21, 2016 Summary Adobe reported the results of its fiscal Q3 last evening. The results were a beat and a raise. The company showed significant margin growth with strong operating leverage. The company, based on better margins, strongly increased its Q4 EPS guidance. The company’s overall competitive momentum is the highest it has ever…

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Apr. 25, 2016 1:32 PM ET Summary The cloud revolution continues to pick up steam and to outpace most expected growth forecasts for its adoption. The cloud is leaving a chasm between performance of legacy vendors and their cloud competitors. Pure cloud vendors, for the most part, are very expensive and their headline optics remain…

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Feb. 26, 2016 Summary Adobe shares have seen significant valuation compression over the last year and last few months. The company’s transition to a subscription-based revenue model is mainly complete and earnings levels are starting to rise rapidly now. Adobe already generates substantial free cash flow that is 3.7% of the company’s enterprise value. The…

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Mar. 18, 2016 Summary Adobe’s Q1 results released last evening showed gains greater than forecast in terms of earnings, revenues, bookings and particularly free cash flow. The company has increased forward guidance quite modestly, and I suspect that it has more quarters coming up in which it will beat and raise. ADBE’s free cash flow…

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