Adobe Systems Down 6% on Weak Q3 Guidance
Adobe Systems (NASDAQ: ADBE) is trading lower on the session following its Q2 earnings announcement yesterday. The company reported an EPS of $0.60 vs $0.59 estimates and revenues of $1.12 billion vs $1.11 billion estimates. Adobe also guided Q3 EPS $0.56-0.61 vs $0.61 estimates and revenue $1.075-1.125 billion vs $1.13 billion estimates.
Shantanu Narayen, president and CEO of Adobe said, “Our strong Q2 results were driven by the successful launch of Creative Cloud and Creative Suite 6, strong Acrobat revenue and 35 percent year-over-year revenue growth in our Digital Marketing Suite business. These results demonstrate our leadership in the Digital Media and Digital Marketing markets.”
Adobe Systems is currently trading at $30.96, down $1.93 or 5.87% intraday.
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