Design software company Adobe Inc. (NASDAQ: ADBE) will report first-quarter 2024 earnings today after the closing bell. The company is successfully monetizing its artificial intelligence initiatives after integrating the technology across the platform.
Listen to Adobe’s Q1 2024 earnings call live and read the real-time transcript
Wall Street is looking for adjusted earnings of $4.38 per share for Q1, representing a 15% increase from the profit generated in the prior-year quarter. It is estimated that February-quarter revenues grew about 10% annually to $5.14 billion. Meanwhile, Adobe executives predict earnings of $4.35-4.40 per share and revenues in the range of $5.10 billion to $5.15 billion for Q1.
In the fourth quarter of 2023, revenues rose 12% to a record high of $5.05 billion and came in above estimates. The Digital Media and Digital Experience segments, which together account for about 98% of total revenues, expanded in double digits. As a result, adjusted profit climbed 19% annually to $4.27 per share.