Adobe’s latest results left an interesting gap between what was reported and how the stock responded. The quarter itself looked fairly solid. The reaction, though, suggested that investors may be weighing a different set of concerns.
i. Buybacks are quietly flattering Adobe’s EPS because per-share earnings are rising faster than the actual profit growth underneath.
ii. Adobe’s ARR quality is not as clean as it looks because part of the increase ...
i. Buybacks are quietly flattering Adobe’s EPS because per-share earnings are rising faster than the actual profit growth underneath.
ii. Adobe’s ARR quality is not as clean as it looks because part of the increase ...
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