Adobe Posts Biggest Gain Since 2020 After AI Sales Success
- Company’s measure of new creative business topped estimates
- CEO says Adobe attracting an ‘expanding universe’ of new users
This article is for subscribers only.
Adobe Inc. shares posted their biggest gain in more than four years after the company projected strong future sales for its creative products, suggesting customers are adopting the company’s new artificial intelligence-based tools.
A closely watched metric of new creative software business — digital media net new annual recurring revenue — will be $460 million in the current quarter, compared with the average estimate of $435.2 million.