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Adobe provides below-consensus FY16 guidance; shares -8.4% (updated)

Oct. 06, 2015 4:10 PM ETAdobe Inc. (ADBE) StockBy: Eric Jhonsa, SA News Editor7 Comments
  • Ahead of an analyst meeting at its annual Adobe MAX conference, Adobe (NASDAQ:ADBE) has guided for FY16 (ends Nov. '16) revenue of $5.7B and EPS of $2.70, below a consensus of $5.93B and $3.19.
  • The company forecasts a 20% revenue CAGR, 25% op. cash flow CAGR, and 30% EPS CAGR from FY15 to FY18.
  • Digital Media (Creative Cloud, Document Cloud) and Marketing Cloud (online ad software) revenue are both expected to rise 20% in FY16, with Marketing Cloud bookings rising 30% and Digital Media annualized recurring revenue (ARR) 25%.
  • Digital Media revenue, Marketing Cloud revenue, and Digital Media ARR are each expected to see 20%+ CAGRs from FY15 to FY18. Marketing Cloud bookings are expected to see a 30% CAGR.
  • Shares have tumbled to $77.97 after hours. The analyst meeting starts at 5PM ET (webcast).
  • Update (5:33PM ET): Adobe is now only down 2.5%.

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