Adobe shares fell 3.7%

Adobe (ADBE) – Adobe shares fell 3.7% in premarket trading after the software company issued weaker-than-expected financial guidance for the current quarter and the full year. Adobe is facing headwinds from the war in Ukraine and unfavorable foreign exchange rates, although its most recent quarter did beat Wall Street estimates for profit and revenue.

“Adobe achieved record Q2 revenue with strong demand across Creative Cloud, Document Cloud and Experience Cloud,” Chief Executive Shantanu Narayen said in a news release.

He added, “We are winning in our established businesses and seeing significant momentum in new categories from content authoring for a broad base of creators to PDF functionality on the web to the leading real-time customer data platform for global enterprises.”