Lates News

Adobe (ADBE.O) announced that its CEO, Shantanu Narayen, will step down from his position as the head of this creative software giant. This comes at a time when the market is doubting whether the company can thrive in the era of artificial intelligence. The company also gave sales forecasts for this quarter, which were slightly higher than expected, but failed to ease investor concerns that this software manufacturer is being left behind by new competitors. The company said on Thursday that revenue for the quarter ending in May will reach $6.43 billion to $6.48 billion. Analysts' average expectation is $6.43 billion. Earnings per share, excluding certain items, will reach $5.80 to $5.85, while analysts' average expectation is $5.70. After-hours trading saw Adobe (ADBE.O) stock drop by about 6%.