Adobe (ADBE) Q1 earnings report 2024


Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor of the New York Stock Exchange on Feb. 20, 2024.

Brendan Mcdermid | Reuters

Adobe shares tumbled as much as 11% in extended trading Thursday after the design software maker issued strong fiscal first-quarter results but came up slightly short on quarterly revenue guidance.

Here’s how the company did, compared with estimates from analysts polled by LSEG, formerly known as Refinitiv:

  • Earnings per share: $4.48 adjusted vs. $4.38 expected
  • Revenue: $5.18 billion vs. $5.14 billion expected

Adobe’s revenue grew 11% year over year in the quarter, which ended March 1, according to a statement. Net income decreased to $620…

Source cnbc.com

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