What's Going On With Adobe Stock Ahead Of Earnings?

Adobe Inc. ADBE shares are trading higher Wednesday. The company announced the launch of its new Firefly web application and is set to report its third-quarter financial results on Thursday.

What To Know:

Adobe announced the commercial launch of its Firefly web application which is now available in AI-assisted workflows across Adobe Creative Cloud, Adobe Express and Adobe Experience Cloud.

"With over two billion generations, creators amazed us with their engagement and feedback to the Firefly beta, inspiring us to deliver generative AI capabilities that are designed to be commercially safe and seamlessly integrated into the interfaces customers love," said Ely Greenfield, CTO, Digital Media at Adobe.

Adobe will offer Enterprise customers the ability to customize models using brand-specific content and assets. Enterprise customers can also embed Firefly APIs into their own ecosystems and automation workflows.

Adobe is set to release its third-quarter financial results after the market close on Thursday and will host a conference call to discuss the results at 5:00 p.m. ET the same day.

According to estimates from Benzinga Pro, Adobe is expected to report earnings of $3.98 per share and third-quarter revenue of $4.87 billion. 

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ADBE Price Action: According to Benzinga Pro, Adobe shares are up % at $ at the time of publication.

Image: Courtesy of Adobe, Inc.