Adobe plunges 10% for second-worst day in past decade on Q4 earnings


Shantanu Narayen

Mark Neuling | CNBC

Adobe shares plummeted 10% on Thursday after the software maker issued a revenue forecast for the fiscal first quarter that fell well shy of analysts’ estimates.

The stock suffered its second-worst drop in the past decade, surpassed only by a 15% slide in mid-March of last year, when coronavirus panic rattled the markets. Adobe’s three worst days of the year have come in December, pushing the stock down 16% for the month and putting it on pace for its steepest monthly decline since June 2010.

Adobe said revenue in its fiscal first quarter, which goes through Feb. 2022, will be $4.23 billion, trailing analysts’ predictions for revenue of $4.34 billion,…

Source cnbc.com

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