Adobe Stock Slides on Disappointing Sales Forecast
TL;DR Summary
Adobe beat Wall Street's targets for its fiscal first quarter but provided a lackluster forecast for the current period, causing its stock to fall more than 9% in extended trading. The company earned an adjusted $4.48 a share on sales of $5.18 billion, exceeding analyst expectations. Concerns about the impact of generative AI tools on its software sales have affected Adobe's stock, but the company is integrating its own generative AI into its creative software.
- Adobe Stock Falls On Lackluster Outlook After First-Quarter Beat Investor's Business Daily
- Adobe shares slip 10% on soft sales forecast CNBC
- Adobe Reports Record Revenue in Q1 Fiscal 2024 Yahoo Finance
- Adobe had a strong quarter, but analysts want more digital-media revenue MarketWatch
- Adobe Stock Slides As Guidance Disappoints Barron's
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