Key Takeaways Adobe shares slumped Friday, as the design software developer failed to impress with its quarterly results, despite topping Wall Street estimates.Several Wall Street analysts indicated Adobe's results didn't suggest enough progress with its own AI offerings to ease worries it could be held back by growing competition and AI

Adobe reported better-than-expected second-quarter financial results on Thursday, raising its full-year revenue guidance as artificial intelligence drives demand. Second-quarter adjusted earnings came in at $5.

ADBE is scheduled to report its Q2 earnings today, after the bell. Jim Cramer dubs Adobe stock a 'flyer' ahead of the Q2 release.