Why Adobe Stock Crashed 12% After Earnings

Adobe (ADBE -12.59%) stock tumbled 12.4% through 10:30 a.m. ET Thursday despite beating earnings in its fiscal Q4 2024 report last night.Heading into the report, analysts forecast Adobe would earn $4.67 per share on$5.5 billion in sales. In fact, Adobe earned $4.81 per share, and its sales exceeded$5.6 billion. Adobe's Q4 earningsThe news wasn't all good. Adobe grew sales 11% year over year, helping to make fiscal 2024 a "record" year for the company. (Sales for the year also rose 11%.)The company's "$4.8 ...