Adobe's 3Q Guidance Ahead of Wall Street Targets
June 17 2021 - 04:50PM
Dow Jones News
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."
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
June 17, 2021 16:40 ET (20:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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