Adobe tops quarterly results and forecast estimates driven by AI

Adobe Inc surpassed Wall Street estimates for quarterly results and forecast on Thursday as the Photoshop maker’s efforts to drive up demand with generative artificial intelligence (AI) integrations paid off.

Revenue stood at $4.82 billion for the quarter ended June 2, compared to analysts’ estimates of $4.77 billion, while adjusted profit came in at $3.91 per share, above estimates of $3.79 per share. Shares of the San Jose, California-based company rose more than 5% in aftermarket trading.

Adobe’s spree to boost AI innovation has been evident by AI features being introduced into Acrobat, Express, Photoshop and Premiere Pro.