Adobe Signals That AI Boost Will Take Longer Than Expected
- Company’s annual sales outlook falls short of projections
- Adobe says it expects US decision on Figma deal ‘soon’
Adobe headquarters in San Jose, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Adobe Inc. gave a lukewarm outlook for sales in 2024, disappointing investors who expected new generative artificial intelligence tools would quickly boost the software company’s results.
Revenue will be about $21.4 billion in the fiscal year ending in December 2024, the company said Wednesday in a statement. Profit, excluding some items, will be as much as $18 a share. Analysts, on average, estimated sales of $21.7 billion and adjusted profit of $18 a share.