Adobe shares have dropped this year, badly underperforming the broader market.
In this article
Adobe
reported fiscal third-quarter results that topped analysts’ estimates. The design software maker’s shares rose in extended trading.
Here’s how the company did in comparison with LSEG consensus:
Revenue increased 11% from $5.41 billion a year earlier, Adobe said in a statement. Net income rose to $1.77 billion, or $4.18 per share, from $1.68 billion, or $3.76 per share, a year ago.
AMD, which is second in the market for AI graphics processing units, is grappling with chip export controls.
AMD's first-quarter forecast fell short of what some analysts were hoping for amid an AI spending boom.
The stock is ahead more than 5% this month as investors add to names they expect were overly punished in the 'SaaSpocalypse.'
The chipmaker is working on a major deal with OpenAI
The chipmaker's stock has surged over the past year amid the AI boom
The design software company maintained its gross margin even as more people adopted the Figma Make artificial intelligence tool.
