Adobe posts solid quarter, but market doubts its AI optimism
Adobe’s fiscal Q2 profit and revenue were both better than expected and the company lifted its full-year sales and earnings guidance, but the stock is still down a fairly gnarly 7% in early trading.
Wall Street clearly wants to know if Adobe’s efforts to embed generative-AI offerings into its software packages can actually generate additional sales and profits. But the takeaway from Adobe’s numbers — released yesterday after the close — is essentially TBD.
On the bright side, today’s tumble in Adobe shares is only half the roughly 14% plunge that the company experienced after its two previous quarterly reports in December and March. So I guess that’s progress?
On the bright side, today’s tumble in Adobe shares is only half the roughly 14% plunge that the company experienced after its two previous quarterly reports in December and March. So I guess that’s progress?
