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.