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Stockreport

Adobe shares fall despite solid results as CEO succession becomes overhang [Yahoo! Finance]

Adobe Inc. (ADBE)  More Company Research Source: Yahoo! Finance
Last adobe inc. earnings: 3/12 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: adobe.com/investor-relations.html
Shares of Adobe Inc (NASDAQ:ADBE) fell about 5.5% on Friday after the software maker's latest earnings report highlighted a leadership transition and ongoing shifts in its business as it pivots toward generative artificial intelligence tools. The company reported first-quarter revenue of $6.4 billion, up 12% from a year earlier and ahead of estimates, according to analysts at Jefferies. Annual recurring revenue grew 10.9% year over year, topping the brokerage's forecast of 10.2%. Jefferies said the upside was largely driven by demand for generative AI features in Adobe's creative products, including tools such as Adobe Firefly and Adobe Express. “Q1 ARR growth of 10.9% y/y nicely exceeds our 10.2%, with upside largely from generative offerings in the creative business,” Jefferies analysts wrote in a note. Still, the stock came under pressure after Adobe announced that CEO Shantanu Narayan plans to step down, with a succession process underway. Jefferies said the leadership [Read more]
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Stockreport

Adobe shares fall despite solid results as CEO succession becomes overhang [Yahoo! Finance]

Adobe Inc.  (ADBE) 
More Company Research Source: Yahoo! Finance
Last adobe inc. earnings: 3/12 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: adobe.com/investor-relations.html
Shares of Adobe Inc (NASDAQ:ADBE) fell about 5.5% on Friday after the software maker's latest earnings report highlighted a leadership transition and ongoing shifts in its business as it pivots toward generative artificial intelligence tools. The company reported first-quarter revenue of $6.4 billion, up 12% from a year earlier and ahead of estimates, according to analysts at Jefferies. Annual recurring revenue grew 10.9% year over year, topping the brokerage's forecast of 10.2%. Jefferies said the upside was largely driven by demand for generative AI features in Adobe's creative products, including tools such as Adobe Firefly and Adobe Express. “Q1 ARR growth of 10.9% y/y nicely exceeds our 10.2%, with upside largely from generative offerings in the creative business,” Jefferies analysts wrote in a note. Still, the stock came under pressure after Adobe announced that CEO Shantanu Narayan plans to step down, with a succession process underway. Jefferies said the leadership [Read more]
IMPACT SNAPSHOT
EVENT TIME:
ADBE
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS