It Will Take a While Before Adobe Unlocks Its AI-Enhanced Creativity Potential
Portfolio Pulse from Upwallstreet
Adobe Inc (NASDAQ:ADBE) reported its fiscal third quarter earnings, exceeding Wall Street estimates. However, shares fell 3.4% due to muted guidance and the indication that AI price increases may take longer to impact the bottom line. Revenue rose 10% YoY to $4.89 billion, with earnings boosted by the successful launch of Adobe’s Firefly suite of tools and raised subscription prices. Adobe's CFO Dan Durn emphasized the company's strong position to capture the opportunities of the upcoming AI era.

September 15, 2023 | 3:15 pm
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Adobe's Q3 earnings exceeded estimates but shares fell due to muted guidance and slower AI price increases. The company's revenue rose 10% YoY, boosted by the launch of Firefly suite of tools and raised subscription prices.
Adobe's shares fell despite beating earnings estimates due to muted guidance and slower than expected impact of AI price increases. However, the company's revenue growth and successful product launches indicate a strong operational performance.
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