Adobe shares slide on weaker-than-expected forecast for 2024

Adobe shares dropped more than 6% in extended trading Wednesday after the software maker posted a lighter-than-expected forecast for 2024.

Here’s how the company did, compared to consensus estimates from LSEG, formerly known as Refinitiv:

• Earnings per share: $4.27, adjusted vs. $4.14 expected
• Revenue: $5.05 billion vs. $5.03 billion expected

Revenue grew almost 12% from a year ago in the fiscal fourth quarter, which ended Dec. 1, according to a