Adobe (ADBE) Q1 EPS Tops Street; Q2 Forecast Disappoints on Japan Slowdown
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Price: $275.30 +1.13%
Revenue Growth %: +11.5%
Financial Fact:
Basic net income per share: 0.54
Today's EPS Names:
BTTX, VAXX, ELYS, More
Revenue Growth %: +11.5%
Financial Fact:
Basic net income per share: 0.54
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Adobe Systems Inc. (NASDAQ: ADBE) posted slightly better-than-expected earnings for the first quarter, but guided for the second quarter below expectations due to concerns over the situation in Japan.
The software maker reported first-quarter earnings of 58 cents per share, a penny better than the analyst estimate of 57 cents per share.
Revenue for the company rose to $1.03 billion in the three-month period ended March 4 from $858.7 million, in line with the market consensus.
Looking forward, Adobe sees second-quarter earnings in the range of 47-58 cents per share (GAAP 33-40 cents), compared to the Street's view of 57 cents per share. The company also sees sales for the second-quarter in the range of $970 million-$1.02 billion, versus the consensus of $1.04 billion.
"Although Adobe has a very diversified business, Japan is our second largest country from a revenue perspective and March is typically our biggest revenue month of the year there due to fiscal year-end spending. Given the uncertain business environment in Japan, we are being prudent and have reduced our revenue expectation for our second quarter by $50 million — or roughly one-third of our original Q2 revenue expectation for Japan,” said Mark Garrett, executive vice president and CFO of Adobe.
Shares of Adobe are up 1.34 percent to $33.23 in aftermarket movement on Tuesday.
The software maker reported first-quarter earnings of 58 cents per share, a penny better than the analyst estimate of 57 cents per share.
Revenue for the company rose to $1.03 billion in the three-month period ended March 4 from $858.7 million, in line with the market consensus.
Looking forward, Adobe sees second-quarter earnings in the range of 47-58 cents per share (GAAP 33-40 cents), compared to the Street's view of 57 cents per share. The company also sees sales for the second-quarter in the range of $970 million-$1.02 billion, versus the consensus of $1.04 billion.
"Although Adobe has a very diversified business, Japan is our second largest country from a revenue perspective and March is typically our biggest revenue month of the year there due to fiscal year-end spending. Given the uncertain business environment in Japan, we are being prudent and have reduced our revenue expectation for our second quarter by $50 million — or roughly one-third of our original Q2 revenue expectation for Japan,” said Mark Garrett, executive vice president and CFO of Adobe.
Shares of Adobe are up 1.34 percent to $33.23 in aftermarket movement on Tuesday.
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