TELETRADER News
9/15/2022, 10:23 PM
(Source: TeleTrader)
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.