Adobe: strong results but disappointing guidance
Adobe Systems revealed strong fiscal first quarter results on Thursday. California-based company said it had net income of $1.36 per share. Earnings, adjusted for one-time gains and costs, came to $1.71 per share.
Adobe Systems shares down amid poor second-quarter guidance, strong earnings don’t help
Stocks impacted: Adobe Systems (ADBE)
Revenue came in at $2.6 billion in the period. The numbers topped Wall Street expectations. Shares closed Thursday up 1.3%, on a 52-week high of $277.61. Despite strong results, the company’s shares were down nearly 2% in after-hours trading as Adobe provided disappointing guidance that overshadowed positive figures. In particular, second-quarter guidance–earnings of $1.77 per share on revenue of about $2.7 billion–fell short of analysts’ projections for EPS of $1.88 EPS on revenue of $2.72 billion.
Make profit on it right now!