Adobe shares drop 12% on weak quarterly revenue guidance

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024.Adobe shares fell 13% on Friday morning after the company reported first-quarter results that beat estimates but delivered a light quarterly revenue forecast.The design software company posted adjusted earnings per share of $4.48, above the $4.38 analysts were expecting, according to LSEG, formerly known as Refinitiv. Its revenue of $5.18 billion exceed ...