CLAIM #3960 · Adobe Systems Incorporated (ADBE) · 2021Q4 earnings call · Dec 16, 2021 · due Nov 25, 2022
“As we take a look at FX and we think about the currency moves... As we look forward into the next year, it creates about a one-point headwind given the recent moves that we've seen over the last couple of weeks”
Dan Durn · CFO
How to check this claim
Look at: FX impact on year-over-year revenue growth, fiscal 2022 (full year)
It came true if: Reported/disclosed FX headwind to revenue growth approximately -1 percentage point (between -0.5 and -1.5 points)
Where: Company management commentary on FX impact (10-K/earnings call, fiscal 2022 results)
In context
“trategy performing well against those strategies. As we think about performance in the current environment, against that backdrop of good performance. We want to strip out noise in the one year look ahead, set of numbers and I think there's two things that we point to when we separate the noise from what's been communicated. First is FX, second is the extra 53 week versus 52 week. And so, let's go one layer deep in each of those. As we think about the 53 versus 52. Week, that's about a 2% add or to growth for the overall company in fiscal '21. And as we window into fiscal '22, that's going to be about a two-point headwind because that extra week occurred in Q1 and you look at Q1 FY '22. It's about a seven-point headwind from just that one extra week alone as we look along quarter forward. As we take a look at FX and we think about the currency moves not surprisingly, FX for our business over 2021 also added about a two-point tailwind from a growth perspective, broadly speaking across the business. As we look forward into the next year, it creates about a one-point headwind given the recent moves that we've seen over the last couple of weeks, I'm sorry, last couple months of the dollar strengthening versus a variety of currencies around the globe. That gives you a sense of the magnitude of the moves from both of those two factors as we extract underlying performance from a bit of the noise we see, if we were to go to one click further down and take a look at how both of those factors affect the Digital Media business versus the Digital Experience business. I would say from the 52 versus 53 week dynamic, you'll see more of that upside and more of that headwind from a growth standpoint, impacting the DME business, then you do the DX business, but it's just a slight difference betwee”
Verify independently
SEC filings for ADBE ↗ · Claim quote is verbatim from the 2021Q4 earnings call.