9/15/2022, 10:23 PM (Source: TeleTrader)
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Adobe plunges nearly 17% as Q3 profits decrease

The shares of Adobe Inc. declined by nearly 17% at the end of Thursday's session following the company's earnings results for the third fiscal quarter of 2022.

Adobe's revenue annually soared 13% to record $4.43 billion, with the company's earnings dropping to $1.14 billion or diluted earnings per share of $2.42. The profits missed market estimates.

Adobe's stocks closed 16.79% lower, selling for $309.13 a share. The company's shares tumbled 45.5% since the start of the year.

Baha Breaking News (BBN) / ND