Adobe Skyrockets After Earnings Beat and Raised Guidance

Jun 14, 2024 By MarketDepth

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Adobe (ADBE) is surging as the company beat Wallstreet expectations and raised its full-year guidance. The software giant reported revenue of $5.31 billion beating expectations of $5.29.

The company is one of many software companies trying to capitalize on AI and incorporating it into there offerings. As companies look to try and diversify there platforms Adobe is one of many that has a platform to deliver on it.

Adobe is up 14.5% to $525.75 intraday but is down about 10% on the year from $580 on the year.