Adobe Set for Biggest Gain Since 2020 After AI Sales Success
What specific AI-based tools has Adobe integrated into its products recently?
Adobe has recently integrated AI-based tools into its products, including Adobe Sensei in Photoshop and generative AI like Firefly. Adobe Sensei is the company's AI framework that powers intelligent features across various products, such as Photoshop's Neural Filters, Content-Aware Fill in After Effects, and Liquid Mode in Acrobat. Firefly, still under development, empowers users to add or remove objects, extend backgrounds, and explore creative possibilities never before seen. Additionally, Adobe has integrated generative AI tools into its existing products, such as Photoshop, allowing Firefly users to fill in areas of an image using text commands4.
What new earnings per share forecast did Adobe provide for this fiscal year, and how does it compare to previous forecasts?
Adobe provided a new earnings per share forecast for the fiscal year, raising it to as much as $18.20 per share, excluding some items. This is compared to the previous outlook of $18 per share. The increase in the forecast suggests that Adobe is experiencing strong sales for its creative products, driven by customer adoption of the company's new artificial intelligence-based tools.
How much does Adobe project its digital media net new annual recurring revenue to be in the current quarter?
Adobe projects its digital media net new annual recurring revenue to be $460 million in the current quarter.