Adobe's third-quarter performance exceeded expectations, with annualized revenue from AI business surpassing $5 billion
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Adobe's third-quarter financial report showed that revenue reached $5.99 billion, a year-on-year increase of 11%, exceeding expectations. The adjusted earnings per share were $5.31, also higher than the expected $5.18. The annualized revenue from AI business surpassed $5 billion, and the digital media business grew by 12% year-on-year. Adobe raised its full-year revenue guidance to $23.65-23.70 billion, with expected revenue for the fourth quarter at $6.08-6.13 billion. After the release of the financial report, the stock price initially rose by 8%, but the final increase settled at 2.77%
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