Adobe announces $25 billions stock buyback plan after AI disruption concerns weigh on shares
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This new authorization “directly reflects our confidence in strong cash flow and the creation of long-term value for investors,” the company's Chief Financial Officer Dan Durn said in a statement on Tuesday. The stock rose about 2% in New York after-hours trading on Tuesday, after closing at $247.18. The stock has fallen 29% so far this year. This buyback authorization comes just two years after the company announced another $25 billion buyback plan in March 2024, which is now nearly complete.
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