Adobe Shares Plummet 12% After Lowering Outlook—Despite Record Revenue
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Adobe's shares fell over 12% after the company lowered its revenue forecast for the current fiscal year, despite reporting record revenue and earnings that exceeded Wall Street's expectations.
December 12, 2024 | 4:00 pm
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Adobe's stock dropped over 12% after the company lowered its revenue forecast for the current fiscal year, despite achieving record revenue and earnings that surpassed Wall Street's expectations.
The significant drop in Adobe's stock price is primarily due to the company's decision to lower its revenue forecast, which overshadowed the positive news of record revenue and earnings. Investors are likely concerned about future growth prospects, leading to a negative short-term impact on the stock price.
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