Earnings

Adobe (ADBE) Q1 earnings report 2024

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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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