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Adobe Inc. dropped about 10% in extended trading after giving a weak outlook for sales in the current quarter, fueling concerns that new AI-focused startups pose a competitive threat.
Revenue will be $5.25 billion to $5.3 billion in the period, the company said Thursday in a statementBloomberg Terminal. Analysts, on average, projected $5.31 billion, according to data compiled by Bloomberg. Profit, excluding some items, will be as much as $4.40 a share, compared with analysts’ average estimate of $4.38.
