0918 ET - Adobe's guidance for FY25 missed expectations, particularly with net new annual recurring revenue from digital media set to come in below levels generated in fiscal years 2022 through 2024, Oppenheimer analysts say in a research note. The company doesn't have the same pricing benefits it had in those years, and its focus on AI user engagement over monetization growth is weighing on the outlook too, the analysts say. Adobe's stock fell after the guidance was given, with investors likely perceiving that the slow monetization path for AI technologies is hurting its growth and outlook, as is increasing competition at the low-end of its market, the analysts say. Shares sink 10% to $493.75 premarket. (dean.seal@wsj.com)
(END) Dow Jones Newswires
December 12, 2024 09:18 ET (14:18 GMT)
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