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ADOBE SYSTEMS

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Adobe : forecasts current-quarter revenue below estimates

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03/14/2019 | 04:46pm EDT
An Adobe Systems Inc software box is seen in Los Angeles

(Reuters) - Adobe Inc forecast current-quarter revenue below analysts' estimates, overshadowing its first-quarter revenue beat that was driven by growth in its digital media business.

The company expects to report revenue of about $2.70 billion (2 billion pounds) for the second quarter, below estimates of $2.72 billion, sending its shares down 2.3 percent in extended trading.

Revenue from Adobe's digital media business, which houses the popular image-editing software Photoshop, surged 22 percent in the first quarter.

The San Jose, California-based company's revenue jumped 25.1 percent to $2.6 billion, beating analysts' estimate of $2.55 billion.

The company's net income rose 15.6 percent to $674.2 million, or $1.36 per share, in the quarter ended March 1.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)

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Financials ($)
Sales 2019 11 167 M
EBIT 2019 4 469 M
Net income 2019 2 971 M
Finance 2019 1 736 M
Yield 2019 -
P/E ratio 2019 44,95
P/E ratio 2020 35,05
EV / Sales 2019 11,2x
EV / Sales 2020 9,25x
Capitalization 127 B
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 292 $
Spread / Average Target 13%
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Managers
NameTitle
Shantanu Narayen Chairman, President & Chief Executive Officer
John Francis Murphy Chief Financial Officer & Executive VP
Abhay Parasnis Chief Technology Officer & Executive VP
Cynthia A. Stoddard Chief Information Officer & Senior Vice President
John E. Warnock Independent Director
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