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Benzinga
Benzinga
Business
Randy Elias

Why Adobe Shares Are Falling

Adobe Inc. (NASDAQ:ADBE) shares are trading lower after the company issued first-quarter and fiscal year 2022 earnings per share and sales guidance below analyst estimates.

The company expects first-quarter earnings per share results of approximately $3.35, which is below the estimate of $3.38, and sales results of approximately $4.23 billion, which is below the estimate of $4.34 billion.

Adobe also issued fiscal year 2022 earnings per share guidance of approximately $13.70, which is below the $14.26 estimate, and sales of approximately $17.9 billion, which is below the $18.16 billion estimate.

Adobe provides content creation, document management, and digital marketing and advertising software and services.

Adobe's stock was trading about 8.2% lower at $578.84 per share on Thursday at the time of publication. The stock has a 52-week high of $699.54 and a 52-week low of $420.78.

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