Reported 27 days ago
Adobe has forecasted fourth-quarter earnings to fall short of analysts' expectations, reflecting intense competition and reduced demand for its AI editing tools, as businesses focus on cost-cutting due to high interest rates and a challenging economic climate. The company's shares dropped 9.2% following the announcement, even as it prepares to launch the Adobe Firefly Video Model, a new generative AI-powered tool aimed at creative professionals.
Source: YAHOO