Adobe (ADBE) shares plunged over 5% in intraday trading Thursday after reporting fiscal fourth quarter earnings that beat estimates, but its guidance missed expectations and the software compa✃ny wa💛rned about potential fines from U.S. regulators.

The maker of Photoshop, Illustrator, and other programs said it expects 2024 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) in a range of $17.60 to $18. Analysts had anticipated $18 per share. It projects revenue of $23.5 billion to $25.5 billion, while estimates called for $27.5 billion.

Adobe has been negatively affected by business cutting back on expenses. The company also boosted prices, which weighed on demand. CEO Shantanu Narayen said Adobe is ex✨tremely confident about how it continues to be a growth bu🍨siness, and suggested that the pricing impact may have been overestimated.

In the fourth quarter, Adobe posted EPSღ of $4.27, with revenue up 12% from a year ago to a record $5.05 bill🧸ion. Both exceeded forecasts.

In a separate filing, the company indicated that since June 2022, it has been cooperating with the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission (FTC) regarding Adobe’s disclosure and subscription practices relative to the Restore Online Shoppers’ Confidence Act. It added that last month, the FTC asserted that it had the authority to “enter into consent negotiations to determine if a settlement regarding their investigation of these issues could be reached.”

The company said it believes its practices comply with the law. However, it noted that the defense or resolution of the matter “could involve s🍷ignificant monetary costs or penalties and could have a materiꦰal impact on our financial results and operations.”

Shares of Adobe were down 5.6% at 589.31 per share as of about 12:30 p.m. ET. Despite Thursday's decline, shares of Adobe have added close to three-quarters of their value this year.

Correction—Dec. 14, 2023: This article was updaಌted to correct the time period described.