Adobe Earnings: A New Growth Strategy
Here's our initial take on Adobe's (NASDAQ: ADBE) financial report.Adobe beat analyst expectations in the first quarter, delivering 10% revenue growth and much improved operating cash-flow generation. With the creative software industry at risk of disruption from artificial intelligence (AI), Adobe laid out its two-part plan to drive sustainable long-term growth.First, Adobe is embracing AI across its product portfolio. The company has already generated more than $125 million in bookings from its AI-based stand-alone products and AI add-on products, which include its Firefly app and Acrobat AI Assistant. Users are embracing AI features within Adobe's existing product lineup, with about 35% of monthly active users of Photoshop using generative AI features. Adobe plans to roll out new Firefly web app subscriptions and support additional third-party AI models.Continue reading
Here's our initial take on Adobe's (NASDAQ: ADBE) financial report.
Adobe beat analyst expectations in the first quarter, delivering 10% revenue growth and much improved operating cash-flow generation. With the creative software industry at risk of disruption from artificial intelligence (AI), Adobe laid out its two-part plan to drive sustainable long-term growth.
First, Adobe is embracing AI across its product portfolio. The company has already generated more than $125 million in bookings from its AI-based stand-alone products and AI add-on products, which include its Firefly app and Acrobat AI Assistant. Users are embracing AI features within Adobe's existing product lineup, with about 35% of monthly active users of Photoshop using generative AI features. Adobe plans to roll out new Firefly web app subscriptions and support additional third-party AI models.
