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Adobe embroiled in anti-trust issues, forecasts revenue below estimates

Livemint · 1y

Adobe is facing regulatory scrutiny over its subscription models and has forecasted annual and quarterly revenue below estimates. The company has been cooperating with the Federal Trade Commission (FTC) since June 2022 in response to an investigation into its disclosure and subscription cancellation practices. The FTC staff asserted the authority to enter into consent negotiations, which could result in significant monetary costs or penalties. Additionally, Adobe's acquisition of Figma is being probed by Britain's competition regulator. The company's revenue forecast for the current quarter and fiscal year 2024 is also below expectations.