Adobe shares fell 14% after a strong quarterly financial report. Revenues and profits exceeded analysts’ expectations, but forecasts for higher revenues were not satisfactory and shareholders staged a liquidation.
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Shareholders of the software developer Adobe organized a sale: the company’s values on the Nasdaq fell by 13.8%. This is evident in the commercial data.
Adobe’s stock drop was preceded by the release of its first-quarter financial report. In it, the company published data on profits and revenues, the figures of which exceeded analysts’ expectations.
However, stock market experts were not satisfied with Adobe’s forecasts for future revenue. According to its expectations, the company should receive revenue of $5.31 billion with earnings per share of $4.38, but the company’s forecast was not so positive: between $5.25 and $5.3 billion. of revenue and earnings per share of $4.35 to $4.40.
Adobe previously refused to buy online service for designers Figma for $20 billion, a deal that was blocked by the UK Competition and Markets Authority.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
