On Thursday, Adobe unveiled a mixed third-quarter financial report and surpassed analysts’ forecast, but its stock dipped after hours on missed guidance.
The company’s stock rose by 1.06% to $586.55 per share in the closed session but plummeted by -9.12% to $533.05 apiece in after-hours trading. Reports noted that the plunge came following Adobe’s Q4 guidance fell short.
Meanwhile, the California-based firm’s earnings per share (EPS) declined to $4.65, better than the analysts’ $4.53 forecast but lower than last quarter’s $4.48 data.
However, its revenue stood at $5.41 billion, surpassing the $5.37 billion consensus and Q2’s $5.31 billion reading.
Furthermore, Adobe anticipates Q4 EPS to be between $4.63 and $4.68 per share. Revenue is also expected to grow between $5.50 billion and $5.55 billion.
On the other hand, experts predict a $4.67 per share on $5.61 billion in sales.
Adobe revealed its net income was $1.68 billion during the quarter, or $3.76 per diluted share. The data is better than last year’s $1.40 billion or $3.05 a share.
Moreover, the firm’s Digital Media business, which includes its Creative Cloud subscriptions that utilize Firefly, rose by 11.00% yearly to $4.00 billion in sales.
Reports noted that Adobe listed $5.18 billion in subscription revenue in the quarter, which grew by 11.00% year-over-year.
Photoshop 25.12 Latest Version Unveiled by Adobe
Adobe has launched the newest version of its image-editing software, Photoshop 25.12, with a minor workflow update.
According to reports, it added the option to view notifications promptly within the application when sharing documents for review.
Furthermore, the software now has a bell icon for viewing unread notifications related to sharing for review, inviting users to edit, and making comments.
Meanwhile, the software can be downloaded with Windows 10+ and macOS 11.2+. However, the application is rental-only, with Photography charge plans, where users can access Photoshop and Lightroom, starting at $119.88 per year.
In addition, the standalone Photoshop subscriptions are priced at $34.49 per month or $263.88 a year.
