Adobe shares slip 10% on soft sales forecast
Publishing timestamp: 2024-03-14 18:11:36
Summary
Adobe issued strong fiscal first-quarter results but fell short on revenue guidance. They paid $1 billion to Figma after abandoning acquisition plans. Adobe announced an AI assistant for Reader and Acrobat apps. Shares tumbled 11% in extended trading. Adobe sees second-quarter earnings of $4.35 to $4.40 per share. They are setting aside $25 billion for share buybacks.
Sentiment: MIXED
Tickers: ADBE,
Keywords: business news, breaking news: earnings, technology, earnings, breaking news: technology, adobe inc., enterprise, business,
Source: https://www.cnbc.com/2024/03/14/adobe-adbe-q1-earnings-report-2024.html