Adobe announces new $25 billion stock buyback program

Anxiety triggered by the disruptive impact of artificial intelligence has hit Adobe’s stock price. The company said it will repurchase up to $25 billion worth of its own shares over the next four years. Chief Financial Officer Dan Durn said in a statement Tuesday that this new repurchase authorization “directly demonstrates our confidence in the company’s strong cash flow, as well as our determination to create long-term value for investors.” Since the beginning of this year, the stock has fallen by a total of 29%. This repurchase authorization was launched as another $25 billion repurchase plan announced in March 2024 was nearing completion. (Caixin Press)