Adobe probably has a bright future with artificial intelligence. But it needs to get through its present first.
Like its peers who sell software to business customers, Adobe is feeling the pinch of a global economic slowdown that is crimping corporate tech budgets. Revenue for the fiscal year that ended in November rose 11.5%—the company’s lowest annual growth rate in eight years. And the fiscal first quarter that ended in February is expected to continue the trend, with analysts projecting revenue to increase just 8.5% year over year to $4.6 billion. Adobe hasn’t seen growth that low on a quarterly basis since 2014.
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