Quarterly results at Photoshop maker Adobe Inc (ADBE.O) Thursday were greater than anticipated, with share rising more than 5% in aftermarket trading by Wall Street.
The, California-based company has been investing heavily in artificial intelligence with AI features being introduced into Acrobat, Express, Photoshop and Premiere Pro.
The company is also developing its own AI tool for generating images, Firefly, to its corporate clients, although it is facing serious indemnity challenges for alleged copyright infringement regarding content produced by the tool.
Adobe’s forecast current-quarter revenue to be in the range of $4.83 billion to $4.87 billion and raised FY 2023 revenue to between $19.25 billion and $19.35 billion.
Adobe is now expected to finalize a $20-billion buyout with Figma.