Adobe (ADBE) shares tumbled 11% in after-hours trading Thursday as the company reported first-quarter earningsꦆ beating analyst estimates, but issued soft guidance for the second quarter.

The company reported first-quarter revenue for fiscal 2024 of $5.18 billion. This record high exceeded analyst estimates compiled by Visible Alpha and represented 11% year-over-year growth.

Adobe's net income for the quarter at $2.05 billion also beat analysts' expectations and was up from the previous quarter and year-ago period. Diluted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) at $4.48 surpassed projections and gr🐻ew fro🃏m the quarter and year prior as well.

The company said it expects revenue in the second quarter of between $5.25 billion and $5.3 billion. However, analysts had anticipated guidance atꦺ the higher end of this range at $5.3 billion.

Adobe's outlook for diluted EPS in the coming quarter was $4.35 to $4.40, in line with analyst expectations at $4.35.

The company did not include guidance for the full year as it did in the first quart🍰er o𝓀f 2023.

In its first quarter of 2024, Adobe filed to end its acquisition of Figma, incurring a $1 bill🍌ion🍒 termination fee.

The company a🌠lso announced a $25 billion buyback program.

Adobe shares dropped 11% in after-hours trading to $507.99. Through Thursday's close, the stock had gained about 70% in the past year.

UPDATE: This article includes updated share price information.