Adobe shares were losing ground in late trading Wednesday after the provider of creative and marketing software provided disappointing revenue guidance for its February quarter and the full fiscal year ending in November 2024. While the company said it is seeing strong early adoption for its suite of AI-powered content creation tools, Wall Street was apparently expecting a bigger boost to near-term revenue. In remarks prepared for its earnings conference call, Adobe said the guidance reflects “current expectations for the macroeconomic and foreign exchange environments.”
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