When it comes to generative artificial intelligence (AI), one company that has been at the forefront on the software side is (NASDAQ: ADBE). The company has added a number of AI-related features to both its Creative line of products, such as Photoshop, and its Acrobat-led Document Cloud business.
While the company has been seeing some benefits from AI, the stock took a hit after the company's fiscal third-quarter results. It's now down about 10% on the year. Let's take a closer look at the company's most recent results and see if the stock is still on track to be an AI winner.
Adobe grew its fiscal Q3 revenue nicely by 11% to $5.41 billion, which was above the company's guidance range of $5.33 billion to $5.38 billion. Adjusted earnings per share (EPS), meanwhile, increased 14% to $4.65, ahead of the company's $4.50 to $4.55 forecast.
Source Fool.com