Apps & Software
Adobe Follows So-So Reception Trends (ADBE)
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Adobe Systems Inc. (NASDAQ: ADBE) has just posted earnings. The Flash and Acrobat software king has posted $0.35 non-GAAP EPS and $704.7 million in revenue. Thomson Reuters had estimates at $0.35 EPS and $694.75 million in revenues.
For next quarter, the company sees $0.30 to $0.37 non-GAAP EPS and $665 million to $715 million in revenues and estimates are $0.33 EPS and $676.05 million in revenues.
We had shares closing down 2.25% at $28.17 on an unofficial closing bell at 4:00 PM and shares appear to be trading at $27.70 in after-hours trading right after the report. Adobe’s 52-week trading range is $15.70 to $46.44.
So far the “so-so” and “less-bad” news is starting to be met by more and more sellers. When you consider how much these stocks have run since the March lows, there is little surprise that meeting or reaffirming guidance is going to be received without emotion.
Jon C. Ogg
June 16, 2009
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