Latest news with #DanDurn
Time of India
a day ago
- Business
- Time of India
Adobe raises annual forecasts on steady adoption of AI-powered tools
Adobe raised its full-year results forecast on Thursday, helped by continued demand for its AI-powered software tools that generate images and video content. The company, an industry veteran in the creative software market , is known for its flagship products, such as Photoshop and Premiere Pro , which have become essential tools for professionals worldwide. Despite a weak first quarter marked by budget constraints and project delays amid macroeconomic uncertainties, Jefferies analysts said demand seemed to start recovering in the second quarter as clients resumed stalled projects and adjusted to the changing environment, supporting ongoing growth targets. Adobe expects revenue to be between $23.50 billion and $23.60 billion in fiscal 2025, compared with its prior range of $23.30 billion to $23.55 billion. Excluding items, it raised its full-year profit to between $20.50 and $20.70 per share, from its prior range of $20.20 to $20.50 each. "We continue to invest in AI innovation across our customer groups to enhance value realization and expand the universe of customers we serve," finance chief Dan Durn said. In 2023, Adobe launched Firefly , which enables users to create, edit and enhance images and videos from simple text prompts. Powered by ethically sourced training from exclusively licensed or public domain images, Adobe Firefly expands the company's AI-driven creative tools, enabling users to accelerate ideation and content creation while ensuring brand safety and copyright compliance. Adobe said in April it was integrating image-generation AI models from OpenAI and Google into its Firefly app. Revenue for the second quarter stood at $5.87 billion, above the analysts' average estimate of $5.79 billion. Adobe's outlook for third-quarter results was also above estimates.
The Star
a day ago
- Business
- The Star
Adobe raises annual forecasts on steady adoption of AI-powered tools
FILE PHOTO: Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Adobe raised its full-year results forecast on Thursday, helped by continued demand for its AI-powered software tools that generate images and video content. The company, an industry veteran in the creative software market, is known for its flagship products, such as Photoshop and Premiere Pro, which have become essential tools for professionals worldwide. Despite a weak first quarter marked by budget constraints and project delays amid macroeconomic uncertainties, Jefferies analysts said demand seemed to start recovering in the second quarter as clients resumed stalled projects and adjusted to the changing environment, supporting ongoing growth targets. Adobe expects revenue to be between $23.50 billion and $23.60 billion in fiscal 2025, compared with its prior range of $23.30 billion to $23.55 billion. Excluding items, it raised its full-year profit to between $20.50 and $20.70 per share, from its prior range of $20.20 to $20.50 each. "We continue to invest in AI innovation across our customer groups to enhance value realization and expand the universe of customers we serve," finance chief Dan Durn said. In 2023, Adobe launched Firefly, which enablesusers to create, edit and enhance images and videos from simple text prompts. Powered by ethically sourced training from exclusively licensed or public domain images, Adobe Firefly expands the company's AI-driven creative tools, enabling users to accelerate ideation and content creation while ensuring brand safety and copyright compliance. Adobe said in April it was integrating image-generation AI models from OpenAI and Google into its Firefly app. Revenue for the second quarter stood at $5.87 billion, above the analysts' average estimate of $5.79 billion. Adobe's outlook for third-quarter results was also above estimates. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Alan Barona)
Mint
a day ago
- Business
- Mint
Adobe Gives Sales Outlook That Fails to Convince AI Skeptics
(Bloomberg) -- Adobe Inc. gave a sales outlook for the current quarter that topped analysts' estimates, but investors remain skeptical that the leader in creative software can outduel AI-focused upstarts. Sales will be about $5.88 billion to $5.93 billion in the period ending in August, the company said Thursday in a statement. Analysts, on average, estimated $5.88 billion. Profit, excluding some items, will be $5.15 a share to $5.20 a share, compared with the average projection of $5.11. Adobe has become a central focus of investors debating whether artificial intelligence tools will disrupt traditional software industry leaders. The company's quarterly results have served as a report card every three months on the competition. Design applications like those from Canva Inc. and image-creation tools from AI firm Midjourney Inc. have gained steam while Adobe has weaved generative AI tools through its products like Photoshop. In February, it introduced separate subscriptions for its AI video generator, trying to compete with similar tools from rivals including OpenAI and Runway. 'Somehow Adobe has been snagged as an AI loser,' said Gil Luria, an analyst at DA Davidson, in an interview on Bloomberg TV. 'We think that's a misunderstanding of the technology,' he added. Adobe's family of AI models, called Firefly, has been used to generate more than 24 billion pieces of content, Chief Financial Officer Dan Durn said in remarks prepared for a conference call after the results. That's up from 20 billion in March. Adobe had said then that it expected $250 million in annual recurring revenue from AI products. The shares were little changed in extended trading after closing at $413.68 in New York. The stock has dropped 7% this year. Fiscal second-quarter revenue increased 11% to $5.87 billion, compared with an average analyst estimate of $5.8 billion. Profit, excluding some items, was $5.06 per share, while Wall Street anticipated $4.98. The digital media unit, which includes Adobe's flagship creative and document-processing software, posted an 11% increase in sales to $4.35 billion. Annual recurring revenue for the closely watched segment was $18.1 billion, in line with estimates. Revenue from the unit that includes marketing and analytics software rose 10% to $1.46 billion. 'Adobe's AI innovation is transforming industries enabling individuals and enterprises to achieve unprecedented levels of creativity,' Adobe Chief Executive Shantanu Narayen said in the statement. (Updates with comments from analyst in the fourth paragraph.) More stories like this are available on
CNA
2 days ago
- Business
- CNA
Adobe raises annual forecasts on steady adoption of AI-powered tools
Adobe raised its full-year results forecast on Thursday, helped by continued demand for its AI-powered software tools that generate images and video content. The company, an industry veteran in the creative software market, is known for its flagship products, such as Photoshop and Premiere Pro, which have become essential tools for professionals worldwide. Despite a weak first quarter marked by budget constraints and project delays amid macroeconomic uncertainties, Jefferies analysts said demand seemed to start recovering in the second quarter as clients resumed stalled projects and adjusted to the changing environment, supporting ongoing growth targets. Adobe expects revenue to be between $23.50 billion and $23.60 billion in fiscal 2025, compared with its prior range of $23.30 billion to $23.55 billion. Excluding items, it raised its full-year profit to between $20.50 and $20.70 per share, from its prior range of $20.20 to $20.50 each. "We continue to invest in AI innovation across our customer groups to enhance value realization and expand the universe of customers we serve," finance chief Dan Durn said. In 2023, Adobe launched Firefly, which enables users to create, edit and enhance images and videos from simple text prompts. Powered by ethically sourced training from exclusively licensed or public domain images, Adobe Firefly expands the company's AI-driven creative tools, enabling users to accelerate ideation and content creation while ensuring brand safety and copyright compliance. Adobe said in April it was integrating image-generation AI models from OpenAI and Google into its Firefly app. Revenue for the second quarter stood at $5.87 billion, above the analysts' average estimate of $5.79 billion.
Yahoo
2 days ago
- Business
- Yahoo
Adobe raises annual forecasts on steady adoption of AI-powered tools
(Reuters) -Adobe raised its full-year results forecast on Thursday, helped by continued demand for its AI-powered software tools that generate images and video content. The company, an industry veteran in the creative software market, is known for its flagship products, such as Photoshop and Premiere Pro, which have become essential tools for professionals worldwide. Despite a weak first quarter marked by budget constraints and project delays amid macroeconomic uncertainties, Jefferies analysts said demand seemed to start recovering in the second quarter as clients resumed stalled projects and adjusted to the changing environment, supporting ongoing growth targets. Adobe expects revenue to be between $23.50 billion and $23.60 billion in fiscal 2025, compared with its prior range of $23.30 billion to $23.55 billion. Excluding items, it raised its full-year profit to between $20.50 and $20.70 per share, from its prior range of $20.20 to $20.50 each. "We continue to invest in AI innovation across our customer groups to enhance value realization and expand the universe of customers we serve," finance chief Dan Durn said. In 2023, Adobe launched Firefly, which enables users to create, edit and enhance images and videos from simple text prompts. Powered by ethically sourced training from exclusively licensed or public domain images, Adobe Firefly expands the company's AI-driven creative tools, enabling users to accelerate ideation and content creation while ensuring brand safety and copyright compliance. Adobe said in April it was integrating image-generation AI models from OpenAI and Google into its Firefly app. Revenue for the second quarter stood at $5.87 billion, above the analysts' average estimate of $5.79 billion. Adobe's outlook for third-quarter results was also above estimates. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
