Adobe's stock fell as the company warned of potential massive fines and significant penalties from an FTC investigation into its subscription cancellation practices. The company missed its outlook, with 2024 estimated revenue and EBITDA below expectations. Despite beating earnings and revenue expectations, the stock was down 7%. The investigation has raised concerns about the company's future, with the possibility of facing hefty fines due to its complex cancellation practices.
Adobe could face hefty fines related to its overly difficult and costly subscription cancellation practices due to an ongoing Federal Trade Commission Probe. By @Amber_M_Neely https://t.co/pOqoHoWh88
Adobe anticipates ‘significant penalty’ for complex cancellation practices https://t.co/vuiiUtOtos
$ADBE (-3.8% pre) Adobe earnings beat, but guidance disappoints https://t.co/WKk4VNEZf8
FTC investigating Adobe over making it too hard to cancel subscriptions https://t.co/VbSr6LypAS by @benlovejoy
Adobe warns it may face massive fines for subscription cancellation practices https://t.co/s4dLlplr5L
you know that this is the company taking adobe out of business right? https://t.co/4JtwWiraZR
Adobe’s stock falls on soft guidance and news of FTC investigation https://t.co/yLI235vj8E
Adobe said it could face significant costs or penalties tied to a Federal Trade Commission probe into its disclosure and subscription cancellation practices https://t.co/M7EweI6Qf2
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 $ADBE: Stock down because FTC investigation on subscription cancellation policies OR... earnings/forecast?
$ADBE Adobe missed on outlook, stock down 7% Sees 2024e rev 21.3bn - 21.5bn vs est 21.74bn Sees 2024e EBITDA 17.6-18, vs est $18 https://t.co/CKIJSchBvy
ADOBE $ADBE JUST REPORTED EARNINGS EPS of $4.27 beating expectations of $4.14 Revenue of $5.05B beating expectations of $5.02B