Adobe Delivers Record Revenue, But Its Outlook Underwhelms | Global News Avenue

Adobe(adbe) reported quarterly revenue above analyst expectations, although its outlook was disappointing.

Creative Cloud Developer’s revenue rose 10% year-on-year to a record $5.71 billion, surpassing the visible Alpha’s analyst consensus. Adjusted earnings were $2.22 billion, or $5.08 per share, up from $2.05 billion or $4.48 per share a year ago, and are estimated to be higher than the estimate.

Adobe’s digital media division, including Creative Cloud subscriptions, reported revenue of $4.23 billion, up 11% year-on-year and surpassed analyst forecasts.

CEO Shantanu Narayen said Adobe “has the most leverage of AI-driven creative economy”. The result is ahead of next week’s company’s Adobe Summit event, and analysts say they will be Watch the update exist Generated AI index.

Looking ahead, Adobe maintains its full-year revenue outlook of $23.3 billion to $23.55 billion and adjusts Earnings per share $20.20 to $20.50, both below the midpoint analyst consensus forecast.

Adobe’s shares fell 2% in expansion trading on Wednesday. Over the past 12 months, they lost about one-fifth of their value at the end of Wednesday.