Adobe Reports Record Q3 Revenue of $5.41 Billion, Driven by Innovation and Growth
Adobe Inc. (Nasdaq: ADBE) reports record Q3 2024 results with $5.41 billion in revenue, an 11% year-over-year increase. CEO Shantanu Narayen credits innovation and customer value for the success, while CFO Dan Durn highlights strong cash flow and profitability. The Digital Media segment generated $4.00 billion, showcasing Adobe’s leadership in creative solutions. With robust earnings and shareholder returns, Adobe is poised for continued growth in the competitive digital landscape.
Adobe Launches Beta Illustrator for Windows on Arm Amid Premiere Pro Anticipation
Adobe has launched a beta version of Illustrator for Windows on Arm, enhancing Creative Cloud support for Snapdragon-powered laptops. While this marks progress, the absence of Premiere Pro and other key applications raises concerns for users relying on native software for video editing. As Adobe expands its offerings, the creative community eagerly awaits updates that will optimize their workflows on Arm architecture.
Adobe Launches Generative AI Features for Illustrator and Photoshop
Adobe has launched a suite of generative AI features for Illustrator and Photoshop, enhancing creative workflows. Key updates include the Generative Shape Fill tool, Text to Pattern feature, and improvements in Photoshop’s Generate Image and Selection Brush tools. These innovations, powered by Adobe’s Firefly AI, aim to streamline design processes and boost productivity for users. Explore the public beta to experience these cutting-edge tools and elevate your design projects.
Adobe Premiere Pro, Illustrator, InDesign, and After Effects to Get Native ARM64 Versions for Qualcomm Snapdragon Laptops
Microsoft confirms native ARM64 versions of Adobe Premiere Pro, Illustrator, InDesign, and After Effects for Qualcomm Snapdragon laptops, enhancing Windows on Arm PCs for creators. Adobe plans to release Arm-native versions of key software in 2024, streamlining user experience on devices like Surface Pro 11 and Surface Laptop 7. Transition to native Arm versions represents a major step forward in optimizing performance and efficiency for creators on Windows on Arm PCs.
US government sues Adobe over deceptive subscription practices
The US government has filed a lawsuit against Adobe, alleging deceptive practices related to subscription services. Adobe is accused of enrolling customers in expensive plans without clear disclosure, making cancellation difficult. The lawsuit targets Adobe executives as well, highlighting the need for transparency and simpler cancellation procedures in the digital subscription landscape.
Analyst Expectations For Adobe’s Future
Explore the latest analyst ratings and price targets for Adobe, including insights from top analysts like Brian Schwartz, Gil Luria, and Gregg Moskowitz. Discover how recent evaluations and adjustments are impacting the future outlook for Adobe.
Adobe Stock Down 23% YTD; Can Q2 Results Reverse The Trend?
Adobe stock has declined 23% YTD, but analysts anticipate a positive trend with Q2 results expected to exceed street estimates. Despite fluctuations, Adobe’s stock price has remained stable, with projections suggesting a continuation of growth. Forecasts indicate a 32% premium over the current market price, highlighting potential for a significant upturn.
IG International Clarifies No Official Line Account Existence
IG International has clarified that they do not have an official Line account, warning against unauthorized and fake accounts. CFD trading carries a high risk of losing money, with 70% of retail client accounts at risk. Financial analysts are watching various indicators and market movements, including upcoming earnings reports and economic data releases. Angeline Ong discusses the GBP/USD exchange rate, US economic signals, and Federal Reserve actions. US API crude oil inventories and corporate earnings from Oracle and FirstGroup are also key points of interest for finance professionals.
Controversy Surrounds Adobe’s Updated Terms of Service
Adobe is facing backlash for controversial changes in its Terms of Service, requiring users to grant unlimited access to their projects. Users liken the new terms to spyware, as Adobe can access and analyze creations for AI training. Despite criticism, Adobe has not revised the terms, leading to speculation about their approach to the public outcry.
Microsoft Unveils New AI PCs and Adobe Suite Support for Windows on Arm
Microsoft’s recent AI event introduced new Copilot features and Surface products, including a new suite of AI PCs powered by Qualcomm’s Snapdragon X Elite. Adobe commits to bringing its full suite of apps to Windows on Arm, addressing previous compatibility concerns. The Surface Pro X offers a fanless design ideal for travel, although performance challenges arise from emulating x86 applications on Arm. Adobe’s expanded support on Microsoft’s new AI PCs signifies a major advancement for AI applications on the Surface lineup.