“Adobe shares drop nearly 14% on weak quarterly revenue guidance”
March 21, 2024
“Adobe shares closed down nearly 14% on Friday after the company reported first-quarter results that beat estimates but delivered a light quarterly revenue forecast. The move marked the stock’s steepest decline since Sept. 15, 2022, when shares closed down 16.8%…
For the current quarter, Adobe expects adjusted earnings per share of $4.35 to $4.40, while analysts were expecting $4.38. It said revenue will total $5.25 billion to $5.30 billion, slightly below the $5.31 billion estimated. The company also announced a $25 billion share buyback…”
https://www.cnbc.com/2024/03/15/adobe-shares-drop-12percent-on-weak-quarterly-revenue-guidance-.html