California software giant Adobe has published its forecasts for the new fiscal year 2023/24 after the close of US trading on Wednesday. The revenue is expected to be around $21.4 billion (€19.8 billion). As a result, the company misses investors' expectations and Adobe's stock falls 6.06% to $586.44 on Thursday pre-market at NASDAQ. Additionally, the adjusted earnings per share of $17.60 to $18 is below the average market expectations of $18.

Investors were disappointed due to high expectations for Adobe's AI functions. The company had been able to benefit from the hype surrounding the innovative technology early on with its generative AI functions, such as automatically generated images and media content. Adobe programs gained great popularity among media designers and graphic artists through the ability to generate and modify content through text instructions.

Adobe releases new versions of its software and increases prices, leading to an impressive 86% rise in Adobe stock this year. In the past fiscal year, which ended on December 1st, the company saw a revenue increase of 10% to $19.4 billion.

Adobe reported a profit of 5.4 billion dollars, which represents a 14 percent increase compared to the previous year.

The future of Adobe remains promising thanks to advanced AI technology. Investors hope for further success from the software company in the fast-paced and ever-evolving world of technology. With its innovative products and focus on Artificial Intelligence, Adobe has established itself as a leading provider in the industry and will continue to have a significant impact on the digital world.