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Adobe Beats Third-Quarter Revenue Estimates

On Thursday, Adobe Systems Inc. beat Wall Street revenue estimates for the fiscal third quarter, reporting $6.76 billion as demand for its AI-integrated products and tools continued to grow.
Prioritizing AI across its creative and customer-experience products, Adobe defended its market position against newer rivals, with AI-first annual recurring revenue growing more than 150 per cent year over year.
The San Jose, California-based software maker reported fiscal third-quarter net income of $1.83 billion, while adjusted profit per share of $6.13 surpassed analysts' estimates of $6.09.
Adobe named Anil Chakravarthy as its next CEO, with longtime chief executive Shantanu Narayen transitioning to executive chair on December 1 as the company seeks accelerated growth.
For the fiscal fourth quarter, Adobe projects revenue between $6.8 billion and $6.85 billion, with per-share earnings expected to range from $6.30 to $6.35.

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SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal third-quarter net income of $1.83 billion. On a per-share basis, the San Jose, California-based company said it had net income of $4.62. Earnings, adjusted for one-time gains and costs, were $6.13 per share. The results surpassed Wall...

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