{"id":71427,"date":"2024-03-15T07:26:07","date_gmt":"2024-03-15T07:26:07","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/adobe-forecasts-downbeat-second-quarter-revenue-the-express-tribune\/"},"modified":"2024-03-15T07:26:07","modified_gmt":"2024-03-15T07:26:07","slug":"adobe-forecasts-downbeat-second-quarter-revenue-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/adobe-forecasts-downbeat-second-quarter-revenue-the-express-tribune\/","title":{"rendered":"Adobe forecasts downbeat second-quarter revenue | The Express Tribune"},"content":{"rendered":"
\n

Adobe forecast second-quarter revenue below analysts’ estimates on Thursday following stiff competition and weak demand for its artificial intelligence-integrated photography, illustration and video software amid a tough economy.<\/p>\n

The company’s shares fell more than 10% after the bell.<\/p>\n

Companies and individuals have shifted focus to cutting costs amid high interest rates and a tough economy, pressuring growth at the Photoshop software maker that has been investing in AI tools to attract more users.<\/p>\n

Adobe has incorporated AI features into its offerings such as document reader Acrobat, Photoshop and Premiere Pro. The company said last month it has introduced a new AI assistant for Reader and Acrobat.<\/p>\n

The company also faces competition from startups such as Stability AI and Midjourney, which offer AI services similar to Adobe such as generating images using text prompts.<\/p>\n

Adobe forecast second-quarter revenue between $5.25 billion and $5.30 billion, below analysts’ estimates of $5.31 billion, according to LSEG data.<\/p>\n

For the first quarter, the company’s revenue rose more than 11% to $5.18 billion, beating estimates of $5.14 billion.<\/p>\n

Adobe also announced a new $25 billion stock repurchase program on Thursday.<\/p>\n

On an adjusted basis, the company forecast second-quarter earnings per share between $4.35 and $4.40, the midpoint of which was in line with expectations.<\/p>\n

Adobe had terminated its $20-billion deal for cloud-based designer platform Figma in\u00a0December<\/a>\u00a0after hitting several regulatory roadblocks.<\/p>\n

Adobe’s first-quarter operating expenses, which included a termination fee of $1 billion related to the Figma deal, increased to about $3.69 billion.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Adobe forecast second-quarter revenue below analysts’ estimates on Thursday following stiff competition and weak demand for its artificial intelligence-integrated photography, illustration and video software amid a tough economy. The company’s shares fell more than 10% after the bell. Companies and individuals have shifted focus to cutting costs amid high interest rates and a tough economy, […]<\/p>\n","protected":false},"author":2,"featured_media":71428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/999-091602571516-0\/999-091602571516-0.jpg","fifu_image_alt":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-71427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/71427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=71427"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/71427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/71428"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=71427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=71427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=71427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}