Adobe's board of directors has authorized a new $25 billion stock repurchase program, set to run through April 30, 2030. The announcement on Tuesday led to a nearly 2% increase in the company's shares during extended trading.
This move comes as Adobe's stock has seen a roughly 30% decline year-to-date. Investors are reportedly concerned about the potential impact of new AI technologies on demand for Adobe's traditional software and design products.
"Our new $25 billion share repurchase authorization is a direct expression of confidence in our robust cash flow and the long-term value we are delivering to investors," stated Adobe CFO Dan Durn.