(Bloomberg) Adobe Inc. provided a sales outlook that met analysts’ expectations, but disappointed investors who expected demand for the company’s artificial intelligence tools would boost revenue.Most Read from BloombergVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingF-35 Debris Found After a $100 Million Fighter Jet Went MissingIndia, Canada Trade Diplomatic Blows Over Murder AllegationsTrudeau’s Murder Claim Risks Upending US Courtship of IndiaSales will be $4.98 billio
Adobe Offers Tepid Sales Outlook Despite Growing AI Optimism bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Cloud revenue, a metric that is closely watched by investors, jumped 30% to $4.6 billion in the period ended Aug. 31. Of that, $1.5 billion came from renting computing power and storage over the internet and $3.1 billion from applications.
Adobe shares rose higher Wednesday after the company announced ahead of earnings that it will implement a credit system to charge users when they use Firefly.