Adobe announces $25 billion stock buyback amid AI disruption fears
Adobe announced a $25 billion stock buyback program to reassure investors amid concerns about AI disruption. The company's shares rose 2% in extended trading after the announcement.
Adobe has announced a share repurchase program worth up to $25 billion through April 30, 2030. The company is seeking to reassure investors of its growth strategy amid the rise of creative autonomous tools. Adobe's shares rose around 2% in extended trading, but have fallen around 30% this year due to investor concerns. The company launched a suite of AI products on Monday to help clients automate and personalize digital marketing functions. This move comes as Adobe faces competition from autonomous tools and uncertainty surrounding its AI strategy after longtime CEO Shantanu Narayen exited in March. Adobe's CFO expressed confidence in the company's robust cash flow and long-term value to investors.
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