The maker of the popular photo and video-sharing software Adobe stock is under fire for the second time in less than a month, with investors worried about a potential loss on the share price and the potential of a stock market crash.
Adobe’s quarterly financial results released Tuesday show that revenue declined 7.1 percent to $4.4 billion.
The company said it would spend $1.6 billion to buy back its shares, with earnings per share up $0.11.
The news came after the tech giant reported earnings of $3.94 per share on $4 billion in revenue in the first quarter, a 0.6 percent drop from the same quarter a year ago.
Admittedly, the quarterly results are far from good.
Revenue fell 8.7 percent to just $4,073 million.
The company had been trying to convince investors to buy its shares to boost its stock price and reduce the risk of a market crash, which it said it expected to happen if the price of its stock fell too much.