1807 ET - Generative AI is a huge area of focus for Adobe, David Wadhwani, president of the software company's digital-media business, says on a call with analysts. The company, for example, expects to roll out video generation, which is "a much higher value activity than image generation," early next year, he says. Adobe is innovating at its fastest velocity, and the new offerings are meaningfully contributing to the company's financial performance, adds CFO Dan Durn. Adobe's pipeline of innovation, the integration of AI into existing products and untapped market share will all come together to shape the company's FY25, Durn adds. Shares fall 9%, to $500.95, after the company's sales and earnings outlook for the current year missed analyst estimates. (connor.hart@wsj.com)
(END) Dow Jones Newswires
December 11, 2024 18:08 ET (23:08 GMT)
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