Adobe Stock Tumbles After Reporting Record Quarterly Revenue, Soft Guidance

Key TakeawaysAdobe shares dropped in after-hours trading as the company reported first-quarter earnings surpassing analyst estimates, but issued soft guidance for the second quarter.The company's revenue for the first fiscal quarter of 2024 at $5.18 billion hit a record high that beat estimates, while net income and diluted earnings per share came in at $2.05 billion and $4.48, respectively, also above projections.However, Adobe issued a weak outlook for second quarter, guiding for revenue between $5.25 bil ...