Adobe Systems Inc (NASDAQ-ADBE) is a software company headquartered in San Jose, California, USA. The company’s Chairman and CEO is Mr. Shantanu Narayen. The company offers products and services used by professionals, marketers, knowledge workers, application developers. The company’s business is divided into three segments: digital media, digital marketing, print, and publishing. The Digital Media segment provides tools and solutions that enable individuals, small and medium-sized businesses, and enterprises to create, publish, promote, and monetize their digital content. The Digital Marketing segment provides solutions and services to create, manage, execute, measure and optimize digital advertising and marketing. The Print and Publishing segment addresses market opportunities ranging from the diverse authoring and publishing needs of technical and enterprise publishing.
Global analysts and private investors are currently keeping a close eye on the performance and most importantly, the economic results the company will showcase through its quarterly earnings results, which will be released via the company’s press release on December 13, 2023. Analysts expect the company to report EPS of $4.13, up 14.72% compared to the same quarter last year. Meanwhile, the latest consensus estimates predict revenue of $5.01 billion, suggesting an increase of 10.65% compared to the same quarter previous year.
As the company has previously indicated plans to restructure the company to reduce costs and improve efficiency in the future, it has already begun to do so. Currently, the company has eliminated 100 jobs to make it leaner and more productive, which will allow it to focus more on its product sales. In doing so, the company has joined the ranks of many technology companies that have also made this move. Adobe’s job cuts are far smaller than the layoffs of thousands of workers at other technology companies such as Amazon.com Inc, HP Inc, Cisco Systems Inc and Meta Platforms Inc. The San Jose, California-based company employed more than 28,700 people.
