![]() ![]() They hint at a traditionally conservative guidance approach, leaving room for potential outperformance. This shortfall in a crucial revenue metric has been a primary source of investor disappointment.Īdobe's management, including CEO Shantanu Narayen and CFO Dan Durn, maintains a positive outlook, suggesting the company is well-positioned for a strong year despite economic and competitive challenges. ![]() The digital media unit of Adobe, which houses key software like Photoshop and Illustrator, is expected to generate $1.9 billion in new annual recurring revenue, falling short of the average analyst estimate of $2.02 billion. This cautious forecast led to a 6% decline in Adobe's shares in extended trading, despite a significant 85% rise earlier in the year fueled by investor optimism regarding Adobe's potential to monetize generative AI. These figures slightly miss analysts' expectations of $21.7 billion in sales and an equivalent profit margin.ĭespite recent advancements in AI technology, exemplified by Adobe's new AI model Firefly, and heightened focus on generative AI at its October user conference, the anticipated revenue impact isn't immediate. The company forecasts revenue at approximately $21.4 billion and a profit of up to $18 per share for the fiscal year ending December 2024. Adobe Inc.'s ( NASDAQ: ADBE) outlook for 2024 suggests a slower-than-expected incorporation of generative AI into its revenue stream, leading to investor disappointment. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |