Adobe Stock Earnings: Why Are Shares Down After Earnings?

By Neil Rozenbaum – Sep 15, 2023 at 10:00AM

NASDAQ: ADBE

Adobe

Market Cap

$214B

Today's Change

(0.87%) $4.12

Current Price

$477.56

Price as of April 26, 2024, 4:00 p.m. ET

Another great quarter was not enough to push the stock higher. Is Adobe stock a buy?

In this video, I will go over Adobe's (ADBE 0.87%) third-quarter earnings report. The company comfortably beat Wall Street's expectations, but that wasn't enough to keep the stock from going down.

*Stock prices used were from the trading day of Sept. 14, 2023. The video was published on Sept. 15, 2023.

Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe. The Motley Fool recommends the following options: long January 2024 $420 calls on Adobe and short January 2024 $430 calls on Adobe. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.