Reported 7 months ago
Adobe has raised its revenue forecast for fiscal 2024, expecting between $21.40 billion and $21.50 billion, up from the previous forecast of $21.30 billion to $21.50 billion. The increase is attributed to the growing demand for its artificial intelligence-powered editing tools like Premiere Pro and After Effects. In the second quarter, Adobe reported revenue of $5.31 billion, surpassing estimates, and digital media revenue of $3.91 billion, above expectations. The company's strong performance is seen as a result of its AI efforts, with the development of tools like Firefly, positioning Adobe as a leader in the software industry.
Source: YAHOO