Subtext

Adobe Inc. ADBE

SectorInformation Technology
Transcripts78
Date range2005-12-20 – 2025-03-12
Calls charted77

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-33-16+0+16+332005 Q42008 Q32011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32005 Q4 · Overall: +13.12006 Q2 · Overall: +7.92006 Q3 · Overall: +10.72006 Q4 · Overall: +13.32007 Q1 · Overall: +12.42007 Q2 · Overall: +13.02007 Q3 · Overall: +13.52007 Q4 · Overall: +6.32008 Q1 · Overall: +13.22008 Q2 · Overall: +14.92008 Q3 · Overall: +10.82008 Q4 · Overall: +9.22009 Q1 · Overall: +9.62009 Q2 · Overall: +10.22009 Q3 · Overall: +11.32009 Q4 · Overall: +11.92010 Q1 · Overall: +9.52010 Q2 · Overall: +11.92010 Q3 · Overall: +9.62010 Q4 · Overall: +15.92011 Q1 · Overall: +12.82011 Q2 · Overall: +9.22011 Q3 · Overall: +12.92011 Q4 · Overall: +15.92012 Q1 · Overall: +14.32012 Q2 · Overall: +10.52012 Q3 · Overall: +19.52012 Q4 · Overall: +19.32013 Q1 · Overall: +19.12013 Q2 · Overall: +16.62013 Q3 · Overall: +16.02013 Q4 · Overall: +17.52014 Q1 · Overall: +19.12014 Q2 · Overall: +20.92014 Q3 · Overall: +19.92014 Q4 · Overall: +13.22015 Q1 · Overall: +13.92015 Q2 · Overall: +22.52015 Q3 · Overall: +20.32015 Q4 · Overall: +18.82016 Q1 · Overall: +20.42016 Q2 · Overall: +14.22016 Q3 · Overall: +18.12016 Q4 · Overall: +22.12017 Q1 · Overall: +15.12017 Q2 · Overall: +18.12017 Q3 · Overall: +20.62017 Q4 · Overall: +20.42018 Q1 · Overall: +20.02018 Q2 · Overall: +18.42018 Q3 · Overall: +18.42018 Q4 · Overall: +15.92019 Q1 · Overall: +17.62019 Q2 · Overall: +21.92019 Q3 · Overall: +18.22019 Q4 · Overall: +24.02020 Q1 · Overall: +15.32020 Q2 · Overall: +17.42020 Q3 · Overall: +19.22020 Q4 · Overall: +24.12021 Q1 · Overall: +21.32021 Q2 · Overall: +19.12021 Q3 · Overall: +16.92021 Q4 · Overall: +28.32022 Q1 · Overall: +20.32022 Q2 · Overall: +20.72022 Q3 · Overall: +28.32022 Q4 · Overall: +24.02023 Q1 · Overall: +20.72023 Q2 · Overall: +24.82023 Q3 · Overall: +24.02023 Q4 · Overall: +27.22024 Q1 · Overall: +19.62024 Q2 · Overall: +22.82024 Q3 · Overall: +24.92024 Q4 · Overall: +23.32025 Q1 · Overall: +25.8
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-47-24+0+24+472005 Q42008 Q32011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32005 Q4 · CEO: +31.82006 Q2 · CEO: +14.22006 Q3 · CEO: +15.22006 Q4 · CEO: +10.82007 Q1 · CEO: +21.32007 Q2 · CEO: +15.02007 Q3 · CEO: +18.22007 Q4 · CEO: +16.82008 Q2 · CEO: +26.12008 Q3 · CEO: +20.02008 Q4 · CEO: +17.82009 Q1 · CEO: +20.92009 Q2 · CEO: +21.72009 Q3 · CEO: +21.22009 Q4 · CEO: +29.92010 Q1 · CEO: +15.12010 Q2 · CEO: +19.92011 Q1 · CEO: +23.82011 Q2 · CEO: +17.82011 Q3 · CEO: +19.82011 Q4 · CEO: +29.62012 Q1 · CEO: +20.62012 Q2 · CEO: +20.92012 Q3 · CEO: +28.32012 Q4 · CEO: +28.82013 Q1 · CEO: +26.32013 Q2 · CEO: +30.52013 Q3 · CEO: +22.82013 Q4 · CEO: +23.92014 Q2 · CEO: +32.32014 Q3 · CEO: +35.32014 Q4 · CEO: +25.62015 Q1 · CEO: +26.02015 Q2 · CEO: +32.92015 Q3 · CEO: +31.92015 Q4 · CEO: +32.92016 Q1 · CEO: +27.32016 Q2 · CEO: +24.12016 Q3 · CEO: +24.32016 Q4 · CEO: +36.32017 Q1 · CEO: +24.72017 Q2 · CEO: +23.82017 Q3 · CEO: +24.02017 Q4 · CEO: +27.12018 Q1 · CEO: +22.92018 Q2 · CEO: +25.82018 Q3 · CEO: +21.92018 Q4 · CEO: +18.92019 Q2 · CEO: +26.82019 Q3 · CEO: +40.72019 Q4 · CEO: +33.12020 Q1 · CEO: +20.92020 Q2 · CEO: +19.72020 Q3 · CEO: +26.82020 Q4 · CEO: +25.52021 Q1 · CEO: +25.72021 Q2 · CEO: +22.02021 Q3 · CEO: +21.02021 Q4 · CEO: +29.22022 Q1 · CEO: +19.42022 Q2 · CEO: +24.02022 Q3 · CEO: +30.72022 Q4 · CEO: +24.82023 Q1 · CEO: +19.42023 Q2 · CEO: +25.12023 Q3 · CEO: +21.72023 Q4 · CEO: +30.62024 Q1 · CEO: +24.82024 Q2 · CEO: +23.52024 Q3 · CEO: +32.12024 Q4 · CEO: +33.62025 Q1 · CEO: +22.12005 Q4 · CFO: +2.72006 Q2 · CFO: +4.92006 Q3 · CFO: +6.92007 Q1 · CFO: +11.22007 Q2 · CFO: +7.52007 Q3 · CFO: +9.32007 Q4 · CFO: +1.92008 Q1 · CFO: +13.32008 Q2 · CFO: +5.92008 Q3 · CFO: +2.12008 Q4 · CFO: +6.02009 Q1 · CFO: +5.42009 Q2 · CFO: -0.52009 Q3 · CFO: +8.02009 Q4 · CFO: +2.72010 Q2 · CFO: +10.32010 Q3 · CFO: +14.72010 Q4 · CFO: +19.72011 Q1 · CFO: +5.92011 Q2 · CFO: +5.52011 Q3 · CFO: +14.92011 Q4 · CFO: +13.12012 Q1 · CFO: +18.92012 Q2 · CFO: +11.42012 Q3 · CFO: +20.12012 Q4 · CFO: +22.32013 Q1 · CFO: +28.82013 Q2 · CFO: +14.12013 Q3 · CFO: +18.82013 Q4 · CFO: +22.82014 Q1 · CFO: +26.52014 Q2 · CFO: +4.92014 Q3 · CFO: +22.12014 Q4 · CFO: +8.22015 Q1 · CFO: +12.22015 Q2 · CFO: +22.22015 Q3 · CFO: +24.72015 Q4 · CFO: +18.02016 Q1 · CFO: +25.42016 Q2 · CFO: +14.82016 Q3 · CFO: +23.62016 Q4 · CFO: +24.22017 Q1 · CFO: +20.72017 Q2 · CFO: +22.62017 Q3 · CFO: +36.82017 Q4 · CFO: +26.72018 Q1 · CFO: +28.62018 Q2 · CFO: +27.32018 Q3 · CFO: +29.32018 Q4 · CFO: +20.62019 Q1 · CFO: +25.12019 Q2 · CFO: +32.32019 Q3 · CFO: +39.42019 Q4 · CFO: +29.42020 Q1 · CFO: +16.02020 Q2 · CFO: +22.52020 Q3 · CFO: +21.62021 Q1 · CFO: +21.52021 Q2 · CFO: +24.92021 Q3 · CFO: +24.72021 Q4 · CFO: +27.02022 Q1 · CFO: +22.92022 Q2 · CFO: +29.32022 Q3 · CFO: +23.82022 Q4 · CFO: +20.92023 Q1 · CFO: +29.62023 Q2 · CFO: +33.42023 Q3 · CFO: +36.62023 Q4 · CFO: +27.22024 Q1 · CFO: +21.62024 Q2 · CFO: +41.12024 Q3 · CFO: +33.22024 Q4 · CFO: +26.42025 Q1 · CFO: +34.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-54-27+0+27+542005 Q42008 Q32011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32005 Q4 · Prepared remarks: +14.02006 Q2 · Prepared remarks: +12.52006 Q3 · Prepared remarks: +14.42006 Q4 · Prepared remarks: +14.32007 Q1 · Prepared remarks: +12.82007 Q2 · Prepared remarks: +15.62007 Q3 · Prepared remarks: +15.32007 Q4 · Prepared remarks: +13.32008 Q1 · Prepared remarks: +13.22008 Q2 · Prepared remarks: +18.22008 Q3 · Prepared remarks: +11.12008 Q4 · Prepared remarks: +17.72009 Q1 · Prepared remarks: +15.82009 Q2 · Prepared remarks: +10.62009 Q3 · Prepared remarks: +11.32009 Q4 · Prepared remarks: +14.82010 Q1 · Prepared remarks: +14.02010 Q2 · Prepared remarks: +18.82010 Q3 · Prepared remarks: +16.42010 Q4 · Prepared remarks: +22.12011 Q1 · Prepared remarks: +13.62011 Q2 · Prepared remarks: +14.82011 Q3 · Prepared remarks: +18.12011 Q4 · Prepared remarks: +19.02012 Q1 · Prepared remarks: +22.62012 Q2 · Prepared remarks: +25.82012 Q3 · Prepared remarks: +27.62012 Q4 · Prepared remarks: +32.82013 Q1 · Prepared remarks: +37.12013 Q2 · Prepared remarks: +29.12013 Q3 · Prepared remarks: +26.22013 Q4 · Prepared remarks: +27.92014 Q1 · Prepared remarks: +30.22014 Q2 · Prepared remarks: +35.92014 Q3 · Prepared remarks: +35.82014 Q4 · Prepared remarks: +47.02015 Q1 · Prepared remarks: +26.22015 Q2 · Prepared remarks: +36.22015 Q3 · Prepared remarks: +41.82015 Q4 · Prepared remarks: +30.72016 Q1 · Prepared remarks: +30.32016 Q2 · Prepared remarks: +26.52016 Q3 · Prepared remarks: +32.32016 Q4 · Prepared remarks: +31.02017 Q1 · Prepared remarks: +25.02017 Q2 · Prepared remarks: +30.92017 Q3 · Prepared remarks: +35.62017 Q4 · Prepared remarks: +31.82018 Q1 · Prepared remarks: +30.82018 Q2 · Prepared remarks: +32.82018 Q3 · Prepared remarks: +34.32018 Q4 · Prepared remarks: +24.92019 Q1 · Prepared remarks: +29.32019 Q2 · Prepared remarks: +30.52019 Q3 · Prepared remarks: +33.32019 Q4 · Prepared remarks: +31.12020 Q1 · Prepared remarks: +25.42020 Q2 · Prepared remarks: +19.62020 Q3 · Prepared remarks: +29.82020 Q4 · Prepared remarks: +30.12021 Q1 · Prepared remarks: +31.22021 Q2 · Prepared remarks: +20.22021 Q3 · Prepared remarks: +33.72021 Q4 · Prepared remarks: +36.82022 Q1 · Prepared remarks: +34.02022 Q2 · Prepared remarks: +32.02022 Q3 · Prepared remarks: +44.52022 Q4 · Prepared remarks: +39.22023 Q1 · Prepared remarks: +34.72023 Q2 · Prepared remarks: +35.92023 Q3 · Prepared remarks: +44.92023 Q4 · Prepared remarks: +41.22024 Q1 · Prepared remarks: +35.32024 Q2 · Prepared remarks: +39.92024 Q3 · Prepared remarks: +39.52024 Q4 · Prepared remarks: +36.52025 Q1 · Prepared remarks: +37.82006 Q2 · Q&A responses: +9.22006 Q3 · Q&A responses: +14.62006 Q4 · Q&A responses: +14.82007 Q1 · Q&A responses: -12.02007 Q2 · Q&A responses: +11.42007 Q3 · Q&A responses: +15.82007 Q4 · Q&A responses: +5.32008 Q1 · Q&A responses: +30.22008 Q2 · Q&A responses: +13.52008 Q3 · Q&A responses: +16.92008 Q4 · Q&A responses: +4.62009 Q1 · Q&A responses: +14.52009 Q2 · Q&A responses: +10.12009 Q3 · Q&A responses: +18.22009 Q4 · Q&A responses: +15.62010 Q1 · Q&A responses: +13.92010 Q2 · Q&A responses: +11.92010 Q3 · Q&A responses: +7.42010 Q4 · Q&A responses: +12.12011 Q1 · Q&A responses: +14.32011 Q2 · Q&A responses: +9.62011 Q3 · Q&A responses: +9.62011 Q4 · Q&A responses: +11.32012 Q1 · Q&A responses: +11.42012 Q2 · Q&A responses: +7.02012 Q3 · Q&A responses: +15.62012 Q4 · Q&A responses: +11.02013 Q1 · Q&A responses: +9.72013 Q2 · Q&A responses: +14.72013 Q3 · Q&A responses: +15.12013 Q4 · Q&A responses: +14.12014 Q1 · Q&A responses: +17.72014 Q2 · Q&A responses: +18.52014 Q3 · Q&A responses: +19.42014 Q4 · Q&A responses: +20.02015 Q1 · Q&A responses: +14.32015 Q2 · Q&A responses: +22.62015 Q3 · Q&A responses: +17.52015 Q4 · Q&A responses: +16.82016 Q1 · Q&A responses: +19.42016 Q2 · Q&A responses: +12.62016 Q3 · Q&A responses: +14.62016 Q4 · Q&A responses: +25.32017 Q1 · Q&A responses: +17.22017 Q2 · Q&A responses: +15.42017 Q3 · Q&A responses: +21.22017 Q4 · Q&A responses: +17.62018 Q1 · Q&A responses: +20.12018 Q2 · Q&A responses: +20.42018 Q3 · Q&A responses: +15.62018 Q4 · Q&A responses: +14.62019 Q1 · Q&A responses: +18.12019 Q2 · Q&A responses: +21.62019 Q3 · Q&A responses: +13.22019 Q4 · Q&A responses: +24.12020 Q1 · Q&A responses: +10.42020 Q2 · Q&A responses: +17.22020 Q3 · Q&A responses: +19.92020 Q4 · Q&A responses: +16.92021 Q1 · Q&A responses: +16.82021 Q2 · Q&A responses: +12.42021 Q3 · Q&A responses: +13.42021 Q4 · Q&A responses: +19.32022 Q1 · Q&A responses: +18.62022 Q2 · Q&A responses: +14.72022 Q3 · Q&A responses: +21.82022 Q4 · Q&A responses: +18.72023 Q1 · Q&A responses: +17.02023 Q2 · Q&A responses: +20.82023 Q3 · Q&A responses: +16.32023 Q4 · Q&A responses: +19.32024 Q1 · Q&A responses: +15.72024 Q2 · Q&A responses: +14.02024 Q3 · Q&A responses: +18.02024 Q4 · Q&A responses: +16.42025 Q1 · Q&A responses: +20.3
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-0.08$11.04$22.162005 Q42008 Q32011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32014 Q1: $1.462014 Q2: $1.742014 Q3: $1.932014 Q4: $2.182015 Q1: $2.462015 Q2: $2.722015 Q3: $3.022015 Q4: $2.852016 Q1: $3.082016 Q2: $3.392016 Q3: $3.652016 Q4: $3.912017 Q1: $4.162017 Q2: $4.562017 Q3: $4.932017 Q4: $5.612018 Q1: $6.562018 Q2: $6.962018 Q3: $7.672018 Q4: $7.932019 Q1: $8.402019 Q2: $8.942019 Q3: $9.392019 Q4: $9.962020 Q1: $10.262020 Q2: $10.562020 Q3: $10.962020 Q4: $11.402021 Q1: $11.942021 Q2: $12.932021 Q3: $13.742021 Q4: $14.392022 Q1: $14.612022 Q2: $15.072022 Q3: $15.432022 Q4: $15.462023 Q1: $16.182023 Q2: $16.742023 Q3: $17.452023 Q4: $18.122024 Q1: $18.742024 Q2: $19.592024 Q3: $20.172024 Q4: $20.63

Forward P/E

18.4134.3650.312005 Q42008 Q32011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32014 Q1: 46.432014 Q2: 42.062014 Q3: 34.842014 Q4: 33.962015 Q1: 31.212015 Q2: 28.652015 Q3: 26.682015 Q4: 33.552016 Q1: 28.602016 Q2: 28.582016 Q3: 27.042016 Q4: 27.052017 Q1: 29.352017 Q2: 30.342017 Q3: 31.712017 Q4: 31.512018 Q1: 33.282018 Q2: 36.792018 Q3: 34.532018 Q4: 28.342019 Q1: 31.472019 Q2: 32.572019 Q3: 29.792019 Q4: 32.572020 Q1: 28.712020 Q2: 39.172020 Q3: 43.412020 Q4: 42.992021 Q1: 37.782021 Q2: 42.022021 Q3: 48.112021 Q4: 43.822022 Q1: 30.282022 Q2: 25.012022 Q3: 24.092022 Q4: 21.982023 Q1: 20.612023 Q2: 28.652023 Q3: 31.712023 Q4: 34.442024 Q1: 30.612024 Q2: 26.662024 Q3: 25.192024 Q4: 21.39

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q4 tone ↓ -6.6 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -2.2 fwd EPS ↑ +0.30 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -6.2 fwd EPS ↑ +0.31 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -7.0 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -2.5 fwd EPS ↑ +0.26 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↓ -3.7 fwd EPS ↑ +0.45 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -8.7 fwd EPS ↑ +0.30 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -2.8 fwd EPS ↑ +0.54 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -2.1 fwd EPS ↑ +0.99 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -2.2 fwd EPS ↑ +0.81 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -7.9 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↓ -3.2 fwd EPS ↑ +0.72 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -7.6 fwd EPS ↑ +0.62 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-03-12+25.8——View →
2024 Q42024-12-11+23.3$20.6321.4View →
2024 Q32024-09-12+24.9$20.1725.2View →
2024 Q22024-06-13+22.8$19.5926.7View →
2024 Q12024-03-14+19.6$18.7430.6View →
2023 Q42023-12-13+27.2$18.1234.4View →
2023 Q32023-09-14+24.0$17.4531.7View →
2023 Q22023-06-15+24.8$16.7428.6View →