Adobe Beats Q3 Earnings and Revenue Estimates, Driven by Creative Cloud and Firefly AI. Stock Slides on Weak Q4 Guidance.

Name: Adobe Beats Q3 Earnings and Revenue Estimates, Driven by Creative Cloud and Firefly AI. Stock Slides on Weak Q4 Guidance.
Uploaded: 2024-09-13T21:02:20+00:00
Duration: 29 s
Channel: Benzinga
Description: Adobe reported third-quarter results, surpassing Wall Street’s sales and earnings expectations. However, the stock dropped 10% after-hours trading due to lower-than-expected fourth-quarter guidance. The company’s Digital Media segment, driven by Creative Cloud and Firefly AI, saw 11% growth, reaching $4 billion in sales. Subscription revenue grew 11% year-over-year to more than $5 billion.

Benzinga

Adobe reported third-quarter results, surpassing Wall Street’s sales and earnings expectations. However, the stock dropped 10% after-hours trading due to lower-than-expected fourth-quarter guidance. The company’s Digital Media segment, driven by Creative Cloud and Firefly AI, saw 11% growth, reaching $4 billion in sales. Subscription revenue grew 11% year-over-year to more than $5 billion.

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