Adobe Stock Alert: Buy the Earnings Dip?

Investors were hopeful that Adobe Systems  (ADBE) – Get Adobe Inc. Report could break its brutal downtrend with this week’s earnings report.

Unfortunately, that’s not coming to fruition. Shares are down about 8% on Wednesday despite the company reporting an earnings and revenue beat for its first-quarter results.

The stock had rallied in six straight sessions ahead of the report, climbing 15.7% from last week’s low to Tuesday’s high. A bulk of those gains are being unwound as we speak.

It wasn’t last quarter that was the culprit. Instead, it was management’s outlook for next quarter that disappointed investors. Part of that muted outlook was due to Russia’s attack on Ukraine impacting Adobe’s European business.

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