{"id":397224,"date":"2020-12-10T08:03:19","date_gmt":"2020-12-10T13:03:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=397224"},"modified":"2020-12-10T08:03:19","modified_gmt":"2020-12-10T13:03:19","slug":"adobe-outlines-growth-opportunities-at-financial-analyst-meeting","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/adobe-outlines-growth-opportunities-at-financial-analyst-meeting\/","title":{"rendered":"Adobe Outlines Growth Opportunities at Financial Analyst Meeting"},"content":{"rendered":"

<\/p>\n

Adobe Outlines Growth Opportunities at Financial Analyst Meeting<\/b><\/p>\n

Company Announces Incremental $15 Billion Stock Repurchase Program<\/b><\/p>\n

SAN JOSE, Calif.–(BUSINESS WIRE<\/a>)–
\nAdobe (Nasdaq:ADBE) today will host a virtual financial analyst meeting with investors and financial analysts, together with its fourth quarter fiscal year 2020 earnings conference call. In addition to sharing its financial outlook, Adobe\u2019s executive team will outline the company\u2019s vision, strategies and opportunities across Adobe Creative Cloud, Adobe Document Cloud, and Adobe Experience Cloud. As part of the financial analyst meeting, Adobe is announcing that its total addressable market has expanded to approximately $147 billion by 2023.\n<\/p>\n

\n\u201cAdobe\u2019s proven ability to create new categories and consistently innovate across our creativity, digital documents and customer experience management businesses enables us to deliver unparalleled customer value,\u201d said Shantanu Narayen, president and CEO, Adobe. \u201cAs a result of the strategic moves we\u2019ve made and the digital tailwinds, our addressable market has expanded to approximately $147 billion in 2023.\u201d\n<\/p>\n

Adobe Authorizes $15 Billion Stock Repurchase Program<\/b><\/p>\n

\nAdobe also announced its board of directors has approved a new stock repurchase authority, granting the company additional authority to repurchase up to $15 billion in common stock through its fiscal year 2024. Under the program, which is designed to return value to Adobe\u2019s stockholders, offset dilution from stock issuances, and reduce share count over time, the company may repurchase shares in the open market and enter into structured repurchase agreements with third parties. The previous program authorizing the repurchase of up to $8 billion in common stock through fiscal year 2021 is expected to be exhausted in the first half of 2021. The new program is expected to be funded from Adobe\u2019s future cash flows from operations and is incorporated into the company\u2019s fiscal year 2021 financial targets.\n<\/p>\n

\n\u201cOur ability to increase Adobe\u2019s stock repurchase program while continuing to execute on our long-term priorities demonstrates our commitment to returning value and excess cash to our stockholders,\u201d said John Murphy, executive vice president and CFO, Adobe.\n<\/p>\n

Adobe to Webcast Financial Analyst Meeting<\/b><\/p>\n

\nAdobe will webcast its meeting with financial analysts and investors, its fourth quarter fiscal year 2020 earnings conference call, beginning at 8:00 a.m. Pacific Time today. People can access the webcast and slides from this event from the Adobe Investor Relations webpage at www.adobe.com\/ADBE<\/a>. The live video webcast will last approximately three hours and will be archived on Adobe’s website for approximately 30 days. There will be no phone dial-in capability.\n<\/p>\n

Forward-Looking Statements Disclosure<\/b><\/p>\n

\nThis press release contains forward-looking statements, including those related to Adobe\u2019s stock repurchases, cash flow, use of cash, business momentum and strategy, and market expansion, all of which involve risks and uncertainties that could cause actual results to differ materially including but not limited to, risks and uncertainties described in Adobe\u2019s Annual Report on Form 10-K for our fiscal year 2019 ended Nov. 29, 2019, and Adobe’s Quarterly Reports on Form 10-Q issued in fiscal year 2020. For further discussion of these and other risks and uncertainties, individuals should refer to Adobe\u2019s SEC filings.\n<\/p>\n

About Adobe<\/b><\/p>\n

\nAdobe is changing the world through digital experiences. For more information, visit www.adobe.com<\/a>.\n<\/p>\n

\n\u00a9 2020 Adobe. All rights reserved. Adobe, Creative Cloud, Document Cloud, Adobe Experience Cloud and the Adobe logo are either registered trademarks or trademarks of Adobe (or one of its subsidiaries) in the United States and\/or other countries. All other trademarks are the property of their respective owners.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201210005251\/en\/<\/a><\/span><\/p>\n

Investor Relations Contact
\n<\/b>
Jonathan Vaas
\n
Adobe
\n
ir@adobe.com<\/a><\/p>\n

Public Relations Contact
\n<\/b>
Ramona Redlingshafer
\n
Adobe
\n
redlings@adobe.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Software Technology Internet Consumer Electronics<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Adobe Outlines Growth Opportunities at Financial Analyst Meeting Company Announces Incremental $15 Billion Stock Repurchase Program SAN JOSE, Calif.–(BUSINESS WIRE)– Adobe (Nasdaq:ADBE) today will host a virtual financial analyst meeting with investors and financial analysts, together with its fourth quarter fiscal year 2020 earnings conference call. In addition to sharing its financial outlook, Adobe\u2019s executive team will outline the company\u2019s vision, strategies and opportunities across Adobe Creative Cloud, Adobe Document Cloud, and Adobe Experience Cloud. As part of the financial analyst meeting, Adobe is announcing that its total addressable market has expanded to approximately $147 billion by 2023. \u201cAdobe\u2019s proven ability to create new categories and consistently innovate across our creativity, digital documents and customer experience management businesses enables us … <\/p>\n

Continue reading “Adobe Outlines Growth Opportunities at Financial Analyst Meeting”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-397224","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAdobe Outlines Growth Opportunities at Financial Analyst Meeting - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/adobe-outlines-growth-opportunities-at-financial-analyst-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adobe Outlines Growth Opportunities at Financial Analyst Meeting - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Adobe Outlines Growth Opportunities at Financial Analyst Meeting Company Announces Incremental $15 Billion Stock Repurchase Program SAN JOSE, Calif.–(BUSINESS WIRE)– Adobe (Nasdaq:ADBE) today will host a virtual financial analyst meeting with investors and financial analysts, together with its fourth quarter fiscal year 2020 earnings conference call. In addition to sharing its financial outlook, Adobe\u2019s executive team will outline the company\u2019s vision, strategies and opportunities across Adobe Creative Cloud, Adobe Document Cloud, and Adobe Experience Cloud. 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