Adobe (ADBE) PT Raised to $382 at Morgan Stanley

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Go back to Adobe (ADBE) PT Raised to $382 at Morgan Stanley

Analysts raise numbers on Adobe (ADBE) after a 'clean finish' to the year

December 16, 2022 5:45 AM EST

Shares of Adobe Systems (NASDAQ: ADBE) are trading up more than 4% in pre-open Friday after the software company reported better-than-expected earnings for its fiscal fourth quarter.

Adobe posted adjusted EPS of $3.60 per share, beating the analyst consensus of $3.50 per share. Revenue rose 10% year-over-year to $4.53 billion, which is in line with the average analyst estimate. Adobe said its subscription revenue increased 11% YoY to $4.23B.

Digital media revenue increased by 9.6% to a record $3.30B... More