Adobe Inc (NASDAQ: ADBE) reported better-than-expected results for its first quarter but issued weak revenue guidance for the current quarter.
Adobe’s first-quarter revenue increased 11% year-over-year to $5.18 billion, which beat the consensus estimate of $5.143 billion, according to Benzinga Pro. The company reported quarterly earnings of $4.48 per share, which beat analyst estimates of $4.38 per share.
“Adobe drove record Q1 revenue demonstrating strong momentum across Creative Cloud, Document Cloud, and Experience Cloud,” said Shantanu Narayen, chair and CEO of Adobe. “We’ve done an incredible job harnessing the power of generative AI to deliver ...