Adobe shares plunge 13% on disappointing revenue guidance
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Adobe shares dropped 13% following the company's announcement of revenue guidance that did not meet analysts' expectations. Adobe forecasts fiscal first-quarter revenue between $5.63 billion and $5.68 billion.
December 12, 2024 | 7:00 pm
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Adobe's stock price fell 13% due to revenue guidance that was below analysts' expectations, forecasting Q1 revenue between $5.63 billion and $5.68 billion.
The significant drop in Adobe's stock price is directly linked to the company's revenue guidance, which was lower than what analysts had anticipated. This suggests a negative market reaction and potential short-term downward pressure on the stock.
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