By Aisha Al-Muslim
Software company Adobe Inc. (ADBE) on Tuesday provided its financial targets for the third quarter that missed analysts' expectations.
For the quarter, the company guided total revenue of $2.8 billion, compared with estimates of $2.83 billion by analysts polled by Refinitiv.
Digital media segment revenue for the quarter is expected to grow 20% year-over-year, while digital experience segment revenue is projected to increase by 34%.
The company guided earnings per share of $1.40 for the quarter, compared with analysts' estimates of $1.47 a share.
The company also guided adjusted earnings per share of $1.95, compared with analysts' estimates of $2.05 a share.
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