Adobe announced that it has approved a new $25 billion share buyback program that will last until 2030. The decision was made by the company's board of directors on April 21.
According to the information, the program will be in effect until April 30, 2030. After the announcement of the news, Adobe shares increased by about 2% in the additional trading session.
However, the company's shares have fallen by about 30% in total for the year. Investors are concerned that new "agent" tools based on artificial intelligence could reduce demand for traditional software and design products.
The company said that the share buyback program reflects its existing cash flow capabilities and confidence in long-term shareholder value.
