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Adobe shares surge 15% for sharpest rally since 2020

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Adobe reported better-than-expected earnings and revenue, lifting the stock to its biggest gain in more than four years.

The stock jumped 15% on Friday, its biggest rally since the beginning of the Covid-19 pandemic in March 2020.Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange on Feb. 20, 2024.shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts' estimates.of $4.48, topping the LSEG consensus estimate of $4.39 per share.

"Our highly differentiated approach to AI and innovative product delivery are attracting an expanding universe of customers and providing more value to existing users," Narayen said in a "We like how Adobe is integrating AI functionality across its product portfolio," the analysts wrote.

 

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Adobe shares surge 15%, head for sharpest rally since 2020Adobe reported better-than-expected earnings and revenue, lifting the stock to its biggest gain in more than four years.
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