Adobe Clears Some of Its Cloud

The recent headlines about tech layoffs don’t seem to match broader economic indicators, which show a strong job market and a historically low unemployment rate. WSJ’s Gunjan Banerji explains the disconnect. Illustration: Ali Larkinfiscal fourth-quarter results

late Thursday contained few surprises. Revenue rose 10% year over year to $4.5 billion, in line with analysts’ forecasts, while adjusted operating income came in at $2 billion, slightly ahead of expectations. The company also reaffirmed that it expects revenue of about $19.2 billion at the midpoint for the fiscal year ending in November 2023.

djtgallagher A private equity manager told me Adobe is one of the stocks he recommends for his clients.

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