Adobe Inc. (NASDAQ:ADBE) shares continue to fall Friday despite reporting better-than-expected third-quarter financial results on Thursday after the market closed.
Adobe stock is trading at depressed levels. What’s ahead for ADBE stock?
AI Momentum and Creativity Fuel Q3 Results
Adobe reported adjusted earnings per share of $6.13, beating the consensus estimate of $6.09. In addition, the company reported revenue of $6.760 billion, beating the consensus estimate of $6.693 billion.
Total Customer Group subscription revenue was $6.56 billion, representing 14% year-over-year growth. Business Professionals & Consumers subscription revenue was $1.91 billion, up 16% year-over-year, while Creative & Marketing Professionals subscription revenue was $4.65 billion, up 13% year-over-year.
