Adobe Inc (NASDAQ:ADBE) shares are trading lower Thursday after the company reported first-quarter results and issued soft guidance. Multiple analysts also cut price targets following the print.
Total revenue was up 10% year-over-year as digital media revenue grew 11% year-over-year and digital experience revenue jumped 10% year-over-year. Remaining performance obligations totaled $19.69 billion at quarter’s end.
"Adobe's success over the next decade will be driven by customer-focused innovation and new offerings for creators, marketing professionals, business professionals and consumers," said Shantanu Narayen, chair and CEO of Adobe. "Adobe is well-positioned to capitalize on the acceleration of the creative economy driven by AI and we are reaffirming our FY2025 financial targets."
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Guidance: Adobe sees second-quarter revenue of $5.77 billion to $5.82 billion versus estimates of $5.8 billion. The company expects second-quarter adjusted earnings of $4.95 to $5 per share versus estimates of $5 per share.
Adobe reaffirmed expectations for full-year 2025 revenue between $23.3 billion and $23.55 billion versus estimates of $23.5 billion. Adobe sees full-year adjusted earnings in the range of $20.20 to $20.50 per share versus estimates of $20.40 per share.
Analyst Changes:
ADBE Price Action: Adobe shares were down 7.66% at $404.99 at the time of publication Thursday, according to Benzinga Pro.
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