By Maria Armental
Adobe Inc.'s financial guidance for the current quarter beat Wall Street projections, pointing to strong momentum with typical fourth-quarter strength.
This quarter, Adobe expects to make about $2.27 a share, or $3 a share as adjusted, on about $3.88 billion in revenue. Analysts expect $2.18 a share, or $2.89 a share as adjusted, on $3.83 billion in revenue.
The forecast, Adobe said, accounts for current macroeconomic conditions and expected return of summer seasonality.
"With the momentum we are seeing across creativity, digital documents and customer experience management, we are on track for another record year with a strong first half already in the books," Chief Financial Officer John Murphy said in a prepared statement. "Few companies of our scale can boast 20 percent plus revenue growth, world-class operating margins and a recurring-revenue model built for long-term growth and profitability."
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(END) Dow Jones Newswires