Adobe's stock in red despite strong Q3

Wednesday, 18. September 2019 17:17

Shares of Adobe Inc. fell on Wednesday after the software giant reported its quarterly results yesterday, revealing a 24% jump in revenue.

The company said it had a great quarter "for the 18th continuous year." According to CNBC calculations, a $1,000 investment in 2009 would be now worth more than $8,500, representing a total return of around 750%. Adobe added it expects revenue of $2.97 billion and GAAP EPS of $1.68 in the fourth quarter.

The share price fell by 2.42% to $277.8050 at 11:15 am ET, lowest in three months.

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