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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