Adobe delivers soft guidance after Q1 results beat estimates

Investing.com - Adobe reported on Wednesday fiscal first-quarter results that beat analysts' forecasts, but reiterated its full-year guidance that fell short of estimates.

Adobe Systems Incorporated (NASDAQ: ADBE) shares were down 1% in after-hours trade following the report.

Adobe announced adjusted earnings per share of $5.08 on revenue of $5.71 billion. Analysts polled by Investing.com anticipated EPS of $4.97 on revenue of $5.66 billion.

The digital media business, which makes up the bulk of growth, saw revenue rise 11%, to $4.23B.

Digital media annualized recurring revenue increased by 12.6%, to $17.63B.

The company reiterated its forecast for revenue of $23.30B to $23.55B, or $23.425B at the midpoint, missing forecast of $23.51B.

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