Hedgie's notes

Hedgie's notes

Adobe 1Q25 preview

Quick one-pager for themes to watch

HedgiePM's avatar
HedgiePM
Mar 12, 2025
∙ Paid
  • Link to webcast here

  • Wednesday, March 12, 2025 at 2:00 pm PT

Analysts expecting EPS to come in at $4.97 (+11% yoy) and topline at $5.61b (+11% yoy), basically no net margin increase.

Key themes to watch:

  1. Digital Media Net New ARR

    1. Cons expecting $390m (-8.5% yoy) - this is the first time that ADBE did not guide for quarterly net new ARR so there could be a…

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