Adobe launches SEK 230 billion
Photo: Paul Sakuma/AP/TT

Adobe launches SEK 230 billion share buyback program

Software company Adobe is launching a share buyback program worth nearly SEK 230 billion, Reuters reports.

The company announced on Tuesday that the board approved a share buyback program that runs until April 30, 2030.

“Our new $25 billion share repurchase authorization is a direct expression of confidence in our robust cash flow and the long-term value we deliver to investors,” said Adobe CFO Dan Durn.

The company's stock has fallen about 30 percent this year.

Investors are weighing the implications of new AI-based tools that many believe could reduce demand for traditional software and design products, such as those provided by Adobe.

Adobe's stock rose 2.1 percent in after-hours trading on the New York Stock Exchange after the news of the buyback program.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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