Adobe, facing anti-trust issues and regulatory probes into its subscription cancellation rules, reported Q4 revenue up 12% YoY to $5.05B, with a lukewarm outlook for 2024 sales, disappointing investors. The company's FY24 revenue of $21.4B fell short of the expected $21.74B, leading to a 7% drop in its shares after the bell. Adobe warned of potential massive fines and penalties, with a forecast below Wall Street estimates, causing its stock to slide. Despite beating expectations in Q4, the company's AI tools are seen as ramping too slowly, impacting its performance and investor confidence.
Adobe anticipates ‘significant penalty’ for complex cancellation practices https://t.co/vuiiUtOtos
Adobe shares off as revenue outlook lags Wall Street estimates https://t.co/csqa0Cr288
Adobe warns it may face massive fines for subscription cancellation practices https://t.co/s4dLlplr5L
"Adobe gave a lukewarm outlook for sales in 2024, disappointing investors who expected new generative artificial intelligence tools would quickly boost the software company’s results." The first canary of the AI bubble
Filing: Adobe says the FTC is probing the company's subscription cancellation rules and that a settlement could have "significant monetary costs or penalties" (@brodyford_ / Bloomberg) https://t.co/lGNjEi0MHm 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/mT3UxIbk3Q
Adobe embroiled in anti-trust issues, forecasts revenue below estimates https://t.co/yc72d20Muf https://t.co/jspq3f2oJI
Adobe said regulators are investigating its cancellation rules, which have long frustrated customers. https://t.co/pFOayIieyN
Adobe said regulators are investigating its cancellation rules, which have long frustrated customers. https://t.co/HyIReKjC1s
Adobe reports Q4 revenue up 12% YoY to $5.05B, vs. $5.03B est., Digital Media revenue up 13% YoY to $3.72B, FY 2024 revenue guidance below est.; ADBE drops 6%+ (@jordannovet / CNBC) https://t.co/vAGsClJaCe 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/JycqhBmN9F
Adobe Stock Slides After Outlook Misses Estimates. AI Might Be Ramping Too Slowly for Wall Street. https://t.co/2mLUeRPUMp
Adobe shares slide on weaker-than-expected forecast for 2024 https://t.co/D6N81FrTGA
Adobe shares slide on weaker-than-expected forecast for 2024 https://t.co/u1kXnKj7ZL
Adobe gave a lukewarm outlook for sales in 2024, disappointing investors who expected new generative artificial intelligence tools would boost the software company’s results. https://t.co/Yu589Iyps1
Adobe gave a lukewarm outlook for sales in 2024, disappointing investors who expected new generative artificial intelligence tools would boost the software company’s results. https://t.co/VJr49pU6HT
$ADBE Adobe Q4 FY23 (excluding Figma): • RPO +13% to $17.2B. • Creative ARR +13% to $12.4B. • Document Cloud ARR +22% to $2.8B. • Revenue +12% to $5.0B ($30M beat). • Non-GAAP EPS $4.27 ($0.13 beat). FY24 revenue $21.4B ($21.74B expected). https://t.co/GYBHblkS3c
$ADBE ADOBE SHARES FALL 7.7% AFTER THE BELL FOLLOWING RESULTS, OUTLOOK
$ADBE Adobe beats, but FY 24 guidance disappoints. -7% AH https://t.co/byxy1epVIo