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More on Adobe's FQ3: FQ4 guidance is for revenue of $1.075B-$1.125B and EPS of $0.53-$0.58,...

More on Adobe's FQ3: FQ4 guidance is for revenue of $1.075B-$1.125B and EPS of $0.53-$0.58, below a consensus of $1.21B and $0.67. Deferred revenue -6% Q/Q to $560M after rising in FQ2. Creative Cloud subscriptions up to 200K, grew at an 8K/week pace that's above 5K/week implied guidance. Digital Marketing Suite sales rose 40% Y/Y (boosted by Efficient Frontier purchase?). Shares now -0.7% AH - Street may have baked in sales drop due to weak media spending and transition to subscription sales.
Comments (1)
  • ADBE was trading at a P/E of 13.6 times 2012 estimated earnings of $2.42. So the closing price of $33.12 before the announcement was what the market thought the stock was worth when the annual estimate was higher. Tonight the company lowered it's 4Q estimate to $0.58 vs the street's $0.67. That brings the $2.42 annual estimate down to $2.33. If you use the same multiple that the stock traded at before the announcement, you get a new price of $31.68.
    19 Sep 2012, 07:17 PM Reply Like
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