Adobe shares drop 13% as concerns about AI growth overshadow better-than-expected results

Shantanu Narayen, Chairman and CEO of Adobe Systems addresses the gathering on the first day of the three-day B20 Summit in New Delhi on August 25, 2023.Adobe shares dropped 13% following the company's quarterly earnings report, as investors fretted over lingering growth concerns and the software maker's artificial intelligence monetization strategy.The selloff came despite better-than-expected results, which included adjusted earnings of $5.08 per share and$5.71 billion in revenue. That surpassed analysts ...