Adobe stock slips on soft fourth-quarter revenue guidance

Adobe reported third-quarter results connected Thursday that bushed Wall Street expectations for income and earnings, but the banal slid 10% successful extended trading connected fourth-quarter guidance that came up short.

Here is however Adobe did for the 4th ending successful August versus LSEG statement estimates:

• Revenue: $5.41 cardinal vs. $5.37 cardinal expected
• Earnings per share: $4.65 adjusted vs. $4.53 estimated

Adobe said it expected net per stock betwixt $4.63 and $4.68 connected gross of betwixt $5.5 cardinal and $5.55 cardinal successful the 4th quarter. Analysts polled by LSEG were expecting a forecast of $4.67 successful net per stock connected $5.61 cardinal of sales.

Adobe said it recorded $1.68 cardinal of nett income during the quarter, oregon $3.76 per diluted share. That is up from $1.40 billion, oregon $3.05 per share, successful the year-ago period.

Adobe's biggest enactment of business, Digital Media, which includes the company's Creative Cloud subscriptions that usage generative artificial quality called Firefly, grew 11% connected an yearly ground to income of $4 billion.

In total, Adobe recorded $5.18 cardinal successful subscription gross during the quarter, up 11% twelvemonth implicit year.