0845 ET - Adobe's results were advertised as a beat and raise, but Melius Research is skeptical about the math. The analysts say in a research note that the software maker's lower share count for the year helped its EPS, and this, along with other factors could mean its revenue raise might be more how the company managed expectations than strength in the business. "Competition from upstarts like Canva, others and the cloud giants should only intensify, and we still think AI will be difficult to monetize, so we remain on the sidelines," say the analysts. They also note that net new digital media annual recurring revenue was a little higher than expected, and that the 11% growth target for FY25 was also maintained. Adobe is off 4% premarket. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

June 13, 2025 08:46 ET (12:46 GMT)

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