Adobe’s (NASDAQ:ADBE) numbers just came out. They reported $3.40 earnings per share, versus $3.33 estimated, on revenue of $4.43 billion, which came in line with the estimate.
And as many of you guys probably know, a lot of their money comes from subscription revenue. $4.13 billion in the last quarter came from subscription revenue versus about $3.6 billion last year.
Adobe to Acquire Figma for $20 Billion in Cash and Stock
And they just announced that they’re buying Figma, a collaborative design tool, for $20 billion, half cash and half stock.
And this is actually a company that competed with one of Adobe’s products.
So Adobe’s (NASDAQ:ADBE) like, “Hey, I’m just going to buy the company up so they can’t compete with us anymore.”
And looking at the stock, it is an absolute disaster. It is down over 17% right now.
So by the looks of it, investors are not liking this acquisition.
What do you guys think? Let me know your thoughts. Follow along for more.
Author Kristen Moran 