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Why Adobe Stock Is Falling Today

TheMotleyFool

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Shares of Adobe (NASDAQ: ADBE) were sliding this morning after the company reported its second-quarter results. While the tech company beat Wall Street's consensus estimates for both earnings and revenue, investors appear disappointed with management's guidance for the third quarter and for the 2022 fiscal year.

The tech stock fell by as much as 5.3% this morning and was down by 3.1% as of 10:25 a.m. ET.

Adobe reported non-GAAP (adjusted) earnings of $3.35 in the quarter, up from $3.03 in the year-ago quarter and above analysts' consensus estimate of $3.31.

Source Fool.com

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