RTTNews | Dec 16, 2021 10:02AM EST

10:01 Thursday, December 16, 2021 (RTTNews.com) - Shares of Adobe Inc. (ADBE) slipped nearly 7% on Thursday morning after the software giant's financial outlook for the first quarter and full-year 2022 fell short of Street view.

ADBE is currently trading at $586.66, down $43.67 or 6.93%, on the Nasdaq. For the past 52 week period, the stock has traded between $420.78 and $699.54.

Looking forward to the first quarter, Adobe expects adjusted earnings of about $3.35 per share on revenues of about $4.23 billion. Analysts polled by Thomson Reuters currently estimate earnings of $3.38 per share and revenues of $4.34 billion for the quarter.

For fiscal year 2022, the company now projects adjusted earnings of about $13.70 per share on total revenues of about $17.90 billion. The Street is currently looking for earnings of $14.26 per share on revenues of $18.16 billion.

Meanwhile, Adobe's fourth-quarter profit halved from last year, reflecting higher provision for income taxes. On an adjusted basis, earnings were in line with analysts' expectations, while quarterly revenues topped it.

Read the original article on RTTNews ( https://www.rttnews.com/3249968/adobe-stock-slips-7-as-outlook-below-street-estimates.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved