Adobe Falls Most in Six Months on Disappointing Sales Outlook
- Company has added AI tools to its signature creative software
- Revenue gains 11% in reported quarter; profit tops estimate
Adobe headquarters in San Jose, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Adobe Inc. shares slid by the most in six months after the company issued an outlook that disappointed investors who are growing impatient to see new artificial intelligence tools generate cash.
Known for making software for creative professionals, Adobe has been adding AI features to its applications. The company has embedded its proprietary technology, Firefly, into products including Photoshop and Illustrator. Investors are looking for evidence that Adobe can make money from those tools, especially as small startup rivals are trying take business from traditional software companies like Adobe, Salesforce Inc. and Workday Inc.