BUZZ-PREVIEW: Adobe shares slip before report; Q4 EPS, rev seen rising

Reuters

Dec 11, 2024

BUZZ-PREVIEW: <a href="https://laohu8.com/S/ADBE">Adobe</a> shares slip before report; Q4 EPS, rev seen rising

** Shares in Adobe Inc ADBE.O shed 0.2% on Wednesday ahead of the software company's fiscal Q4 report due to be released after market close

** Wall Street expects ADBE, the developer of Photoshop software, to report adj EPS of $4.66 vs $4.27 in year-ago quarter on rev of $5.54 bln, up from $5.05 bln year-ago, according to LSEG data

** In last 8 quarters ADBE's EPS beat consensus every time while rev met or beat 7 times

** On Sept 13 ADBE shares sank 8.5% on fears returns from its push into artificial intelligence design would take longer than hoped for to materialize after a disappointing earnings forecast. But stock up about 2% since with reaction positive to ADBE mid-Oct announcement it had started distributing AI model that can generate video from text prompts

** ADBE last traded at $545.87 vs median PT of $635, according to LSEG, which shows 40 analyst ratings: 12 'strong buy,' 19 'buy,' 7 'hold' and 2 'sell' recommendations

** YTD shares down 8.5% vs gain of 37.6% jump in S&P 500 technology index .SPLRCT

(Reporting By Sinéad Carew)

((sinead.carew@thomsonreuters.com; +13322191897;))

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