Adobe posted earnings that were a smidgen better than both guidance and Street estimates, as it continues to make a full-court press to add generative artificial intelligence capabilities across its broad suite of content creation and marketing tools.
For the fiscal third quarter ended Sept. 1, Adobe reported revenue of $4.89 billion, up 10% from a year ago, or 13% adjusted for currency, slightly ahead of the company’s guidance range of $4.83 billion to $4.87 billion, and the Street consensus forecast at $4.87 billion. On an adjusted basis, the company earned $4.09 a share, topping its target of $3.95 to $4 a share, and Street consensus at $3.98. Under generally accepted accounting principles, the company earned $3.05 a share.
“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio,” Adobe CEO Shantanu Narayen said in a statement accompanying the earnings announcement. “The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users.”
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