Adobe Stock Rallies on Earnings. Management Sticks With Forecasts.

Adobe shares gained ground after the provider of content development and marketing software tools posted better-than-expected quarterly profits.

While the numbers for Adobe’s fiscal fourth quarter, ended Dec. 2, were just modestly ahead of forecasts, investors are clearly relieved that Adobe (ticker: ADBE) didn’t show any intensifying effects from the softening economy. Management’s forecasts for fiscal 2023 matched the view the company laid out at a meeting for financial analysts in October.