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Outlook Cut Forces Adobe Stock to Plunge, Where’s the Bottom?

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ValueWalk

Adobe Inc (NASDAQ:ADBE) stock price is trading around 6% lower on Friday after the software company released a weaker-than-expected full-year forecast. Adobe reported second-quarter adjusted earnings per share (EPS) of $3.35, topping the consensus estimates of $3.31 per share, according to Refinitiv. Revenue came in at $4.39 billion, up 14% year-over-year, and above the analyst consensus of $4.34 billion. Net income in the quarter totaled $1.18 billion, up roughly 6% from the same period last year. Q1 2022 hedge fund letters, conferences and more The company’s Digital Media unit, which develop…

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