Adobe Climbs on Guidance, Updates

Adobe Inc. (NASDAQ: ADBE) found its fortunes on the rise Tuesday, after the company reaffirmed fourth-quarter sales guidance of $2.42 billion and EPS guidance of $1.87. The company sees FY19 total adobe sales growth of about 20% year-over-year and sees digital media annualized recurring sales of $1.4 billion of net new ARR.

Moreover, the company announced Monday major updates to Creative Cloud applications including Photoshop CC, Lightroom CC, Illustrator CC, InDesign CC, Premiere Pro CC and Adobe XD. Adobe also introduced Adobe Premiere Rush CC, the first all-in-one, easy-to-use video editing app for social media creators, simplifying video creation and sharing on platforms including YouTube and Instagram.

A news release out Monday revealed Adobe previewed new iPad versions of Adobe Photoshop CC and Project Gemini, a drawing app, reinforcing the company’s commitment to delivering high-performance apps that work seamlessly across surfaces.

Designed specifically for online video creators, Premiere Rush CC integrates capture, intuitive editing, simplified color, audio and motion graphics with seamless publishing to leading social platforms, such as YouTube and Instagram, all together in one easy-to-use solution
According to Chief Product Officer Scott Belsky, "Today, we unveiled a portfolio of next-generation creative apps that deliver meaningful value to our community by transforming creative workflows across devices and platforms.

"By continuing to innovate in our flagship apps, extending into exploding segments such as experience design and social video creation, and pioneering in emerging mediums like touch, voice, 3D and augmented reality, Adobe Creative Cloud has truly become the creativity platform for all."

Shares leaped $14.85, or 6.2%, to $252.86