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Adobe’s AI-Driven Revenue Surge Fails to Fully Reassure Investors
Adobe’s AI-Driven Revenue Surge Fails to Fully Reassure Investors
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Adobe's fiscal third-quarter earnings shattered records, with revenue climbing 11% year-over-year to $5.99 billion, powered by accelerating AI adoption. The creative software leader now forecasts full-year adjusted earnings between $20.80-$20.85 per share, raising guidance after exceeding its annual AI revenue targets by August.
Despite the bullish results, Adobe shares remain mired in a 20% year-to-date decline through Thursday's close at $351. Wall Street maintains optimism, with analysts' mean price target of $461 implying 30% upside potential. Yet this projection appears conservative compared to February's $600+ share price, reflecting persistent concerns about competitive pressures in generative AI.
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