Adobe has been one of the safest bets around to outperform Street expectations, having topped revenue and earnings expectations for 10 consecutive quarters.
The software giant will get another opportunity to do this when it reports results from its fiscal first quarter ended February 28 after the closing bell on Wednesday. Analysts are projecting $4.62 billion in revenue and earnings of $3.64 per share on average.
Adobe’s guidance is revenue between $4.6 billion and $4.64 billion and profits of $3.67 per share.
Investors will be watching for the company’s subscription revenue, which Zacks Estimates said will come in at $4.3 billion, a 10% increase year-over-year.
Meanwhile, shares of Adobe still haven’t fully recovered from a September fall that saw the stock tumble from nearly $400 to $274.73, its lowest level since March 2020.
Shares traded 0.5% lower Monday afternoon at $327.70.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel