FINANCE

ADBE Stock: Adobe Stock Falls As Outlook Disappoints


Digital media and marketing software firm Adobe (ADBE) late Wednesday beat Wall Street’s targets for its fiscal fourth quarter but disappointed with its outlook. ADBE stock fell in extended trading.




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The San Jose, Calif.-based company earned an adjusted $4.27 a share on sales of $5.05 billion in the quarter ended Dec. 1. Analysts polled by FactSet had expected Adobe earnings of $4.13 a share on sales of $5.01 billion. In the year-earlier quarter, Adobe earned an adjusted $3.60 a share on sales of $4.53 billion.

In after-hours trading on the stock market today, ADBE stock sank nearly 6% to 586.84. During the regular session Wednesday, ADBE stock slid 1.5% to close at 624.26.

Earnings report details to follow.

ADBE stock is on IBD’s Big Cap 20 and Tech Leaders stock lists.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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