Adobe Stock Drops 11% Despite Earnings Beat, as Revenue Guidance Is Lower Than Wall Street Expected
Shares of (NASDAQ: ADBE) declined 11% in Thursday's after-hours trading following the software-as-a-service (SaaS) company's release of its report for the first quarter of fiscal 2024 (ended March 1).
The stock's drop is largely attributable to revenue guidance for the second quarter coming in lighter than Wall Street had expected.
On the positive side, the first quarter's top and bottom lines both beat the analyst consensus estimate. And in the neutral column, the second quarter's adjusted earnings guidance was essentially in line with the Street's projection.
Source Fool.com
Adobe Inc. Aktie
502,10 €
-0,61 %
Überwältigendes Buy-Interesse bei Adobe Inc., mit einer hohen Anzahl von Buy- und wenigen Sell-Einschätzungen.
Ein leicht positives Kursziel von 588 € für Adobe Inc. gegenüber dem aktuellen Kurs von 502.1 € wird gesehen.
