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Adobe (ADBE) Clientele Expands With General Motors Addition
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Adobe (ADBE - Free Report) announced that its Adobe Experience Cloud was selected by General Motors (GM - Free Report) .
GM will utilize Adobe Experience Platform (“AEP”) tools such as Real-Time Customer Data Platform, Adobe Journey Optimizer (“AJO”) and Customer Journey Analytics (“CJA”) for real-time customer insights and experience orchestration.
AEP enables GM to unify customer data under a common data model with strict governance and security controls across the organization.
General Motors will use AJO to build one-to-one customer journeys across various touchpoints with impactful and helpful experiences, all through a visual interface.
Moreover, CJA empowers GM teams to continually optimize their marketing efforts, as well as customer experiences.
Adobe’s expanding clientele has been a major factor driving top-line growth.
Apart from GM, Petco recently integrated Adobe Experience Cloud enterprise applications to enhance consumer engagement and provide them with personalized experiences to navigate the journey of pet parenthood.
Qualcomm selected Adobe Experience Cloud to deliver personalized experiences, gain deeper insights, and ensure relevant content and services across the entire customer journey.
The consistent expansion in the customer base is benefiting ADBE’s top-line growth.
In the first quarter of fiscal 2023, Adobe’s total revenues were $4.66 billion, up 9% on a reported basis and 13% on a constant-currency basis.
For the second quarter of fiscal 2023, Adobe projects total revenues between $4.75 and $4.78 billion.
For second-quarter fiscal 2023, the Zacks Consensus Estimate for revenues is pegged at $4.76 billion, indicating growth of 8.5% from the year-ago quarter’s reported quarter.
The consensus mark for earnings is projected at $3.77 per share, indicating growth of 12.5% from the year-ago quarter’s reported figure.
Digital Experience Segment in Focus
Adobe’s growing customer relationships are attributed to its reliable and efficient Digital Experience portfolio. Also, Adobe’s initiatives to expand its offerings that aim at equipping customers with advanced DEP applications are noteworthy.
Adobe recently introduced a family of creative generative AI models named Adobe Firefly that enables content creators to use their words, images, audio, vectors, videos and 3D.
It also unveiled its Sensei GenAI across Adobe Experience Cloud, which allows businesses to generate content that is safe for commercial use, as well as reimagine end-to-end marketing workflows.
Adobe’s efforts to strengthen its portfolio are expected to benefit its Digital Experience.
In first-quarter fiscal 2023, the segment generated revenues of $1.18 billion, up 11% year over year. The Experience Cloud subscription revenues were $1.04 billion, up 12% year over year.
For second-quarter fiscal 2023, Adobe expects its Digital Experience segment revenues between $1.21 and $1.23 billion. Moreover, Digital Experience subscription revenues are expected between $1.06 and $1.08 billion.
Zacks Rank & Stocks to Consider
Currently, Adobe carries a Zacks Rank #3 (Hold). ADBE has lost 16.6% in a year compared with the industry’s and sector’s declines of 8.4% and 16.4%, respectively.
Image: Shutterstock
Adobe (ADBE) Clientele Expands With General Motors Addition
Adobe (ADBE - Free Report) announced that its Adobe Experience Cloud was selected by General Motors (GM - Free Report) .
GM will utilize Adobe Experience Platform (“AEP”) tools such as Real-Time Customer Data Platform, Adobe Journey Optimizer (“AJO”) and Customer Journey Analytics (“CJA”) for real-time customer insights and experience orchestration.
AEP enables GM to unify customer data under a common data model with strict governance and security controls across the organization.
General Motors will use AJO to build one-to-one customer journeys across various touchpoints with impactful and helpful experiences, all through a visual interface.
Moreover, CJA empowers GM teams to continually optimize their marketing efforts, as well as customer experiences.
Adobe Inc. Price and Consensus
Adobe Inc. price-consensus-chart | Adobe Inc. Quote
Expanding Customer Base
Adobe’s expanding clientele has been a major factor driving top-line growth.
Apart from GM, Petco recently integrated Adobe Experience Cloud enterprise applications to enhance consumer engagement and provide them with personalized experiences to navigate the journey of pet parenthood.
Qualcomm selected Adobe Experience Cloud to deliver personalized experiences, gain deeper insights, and ensure relevant content and services across the entire customer journey.
The consistent expansion in the customer base is benefiting ADBE’s top-line growth.
In the first quarter of fiscal 2023, Adobe’s total revenues were $4.66 billion, up 9% on a reported basis and 13% on a constant-currency basis.
For the second quarter of fiscal 2023, Adobe projects total revenues between $4.75 and $4.78 billion.
For second-quarter fiscal 2023, the Zacks Consensus Estimate for revenues is pegged at $4.76 billion, indicating growth of 8.5% from the year-ago quarter’s reported quarter.
The consensus mark for earnings is projected at $3.77 per share, indicating growth of 12.5% from the year-ago quarter’s reported figure.
Digital Experience Segment in Focus
Adobe’s growing customer relationships are attributed to its reliable and efficient Digital Experience portfolio. Also, Adobe’s initiatives to expand its offerings that aim at equipping customers with advanced DEP applications are noteworthy.
Adobe recently introduced a family of creative generative AI models named Adobe Firefly that enables content creators to use their words, images, audio, vectors, videos and 3D.
It also unveiled its Sensei GenAI across Adobe Experience Cloud, which allows businesses to generate content that is safe for commercial use, as well as reimagine end-to-end marketing workflows.
Adobe’s efforts to strengthen its portfolio are expected to benefit its Digital Experience.
In first-quarter fiscal 2023, the segment generated revenues of $1.18 billion, up 11% year over year. The Experience Cloud subscription revenues were $1.04 billion, up 12% year over year.
For second-quarter fiscal 2023, Adobe expects its Digital Experience segment revenues between $1.21 and $1.23 billion. Moreover, Digital Experience subscription revenues are expected between $1.06 and $1.08 billion.
Zacks Rank & Stocks to Consider
Currently, Adobe carries a Zacks Rank #3 (Hold). ADBE has lost 16.6% in a year compared with the industry’s and sector’s declines of 8.4% and 16.4%, respectively.
Some better-ranked stocks in the broader technology sector are Arista Networks (ANET - Free Report) , and Salesforce (CRM - Free Report) . Both companies sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have gained 21.2% in the past year. The long-term earnings growth rate for ANET is projected at 14.17%.
Salesforce shares have lost 11.7% in the past year. CRM’s long-term earnings growth rate is projected at 16.75%.