Adobe's shares rise 30% due to strong Q2 earnings, 10% revenue growth, and AI tool success.
Adobe's shares increased by 30% since June due to strong Q2 earnings, with revenue up 10% YOY and adjusted EPS up 15%. The AI tool, Firefly, successfully converts free users to paying subscribers, and Adobe's competitive advantages, like industry-standard software and unique data access, make it hard for competitors to displace. Analysts predict 23% earnings growth this year, while AI initiatives may drive further growth in the long term.
July 20, 2024
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