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Adobe weaker guidance offsets better-than-expected Q3 results; shares plunge 10%

Investing.com - Adobe reported Thursday fiscal third-quarter results that beat analysts' forecasts, but guidance for the current quarter fell short of estimates.

Adobe Systems Incorporated (NASDAQ:ADBE) shares fell 9.6% in after-hours trade following the report.

Adobe announced earnings per share of $4.65 on revenue of $5.41 billion. Analysts polled by Investing.com anticipated EPS of $4.53 on revenue of $5.37B.

New digital media annualized recurring revenue was $504M.

"Clearly the disappointment has to do with the ~$550mn F4Q guide, which given the continued strong momentum in Document Cloud delivering +25% growth, infers Creative Cloud ARR growth of ~11.5% in F4Q, or a point below the ~12.5% seen in F2Q/F3Q," Evercore ISI analysts said in a flash note. 

The company guided Q4 earnings of $4.63 to $4.68, or $4.66 at the midpoint on revenue of $5.50B to $5.55B, or $5.53B at the midpoint, missing consensus estimates of $4.67 a share and revenue of $5.60B, respectively.

Digital media net new ARR is expected to come in at about $550M in Q4.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.