Adobe reported third-quarter results on Thursday that beat Wall Street expectations for sales and earnings. But the stock slid in extended trading on fourth-quarter guidance that came up short.
Photoshop maker Adobe forecast fourth-quarter earnings below analysts' estimates on Thursday, signaling stiff competition and soft demand for its AI-integrated editing tools amid challenging economic conditions.
Adobe hit a revenue record in the latest quarter.
The company posted revenue of $5.4 billion in in latest quarter.
Adobe beat Wall Street's targets for its fiscal third quarter, but its guidance for the current period missed estimates. ADBE stock fell.
A rate cut by the Fed will help mega-cap tech stocks like Micron Technology (MU), Arista Networks (ANET), Adobe (ADBE) and AudioEye (AEYE).
UPDATE—Sept. 12, 2024: This article has been updated to reflect more recent share price information.
Adobe Inc. ADBE will release earnings results for its third quarter, after the closing bell on Thursday, Sept. 12.
Adobe is scheduled to report earnings after Thursday' close. The stock hit a record high of $699.54/share in 2021 and is currently trading near $580.
Adobe said the upgrade will be available in beta later this year, but you can join the waitlist now.
Adobe's fiscal third-quarter results are likely to reflect solid momentum across Creative Cloud and Document Cloud.
Adobe will unveil a new generative AI-powered video creation and editing tool in a limited release later this year, the software maker said on Wednesday, as it looks to beef up its suite of applications catering to creative professionals.