Adobe Offers Tepid Sales Outlook Despite Growing AI Optimism
Sales will be $4.98 billion to $5.03 billion in the period ending in November, the San Jose, California-based company said.
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Adobe Inc. provided a sales outlook that met analysts’ expectations, but disappointed investors who expected demand for the company’s artificial intelligence tools would boost revenue.
Sales will be $4.98 billion to $5.03 billion in the period ending in November, the San Jose, California-based company said Thursday in a statement. Analysts, on average, projected $5 billion, according to data compiled by Bloomberg. Profit, excluding some items, will be as much as $4.15 a share, compared with the average estimate of $4.06.