Adobe Stuck in a Rut
June 18, 2013 by Paul AusickThe company’s press release did not offer third-quarter or fiscal year guidance, but the company plans to discuss financial targets on its conference call. The consensus estimates for the third quarter call for EPS of $0.35 on revenues of $1.01 billion. For the full-year, analysts are looking for EPS of $1.44 on revenues of $4.11 billion.
First quarter EPS totaled $0.31, second quarter totaled $0.36, and next quarter is forcast at $0.31. Revenues are pretty flat as well. Subscriptions to the firm’s cloud-based programs could be flattening, but we’ll have to wait until the conference call to find out.
Adobe launched its Creative Cloud platform last year and that continues to be a focus going forward. The company’s CEO said:
Creative Cloud is revolutionizing the creative process, and Adobe Marketing Cloud is quickly becoming the platform of choice for the world’s leading brands, advertising agencies and media companies.
On a GAAP basis, Adobe posted EPS of $0.15 for the quarter, which excludes $0.16 of stock based compensation plus other charges and credits.
The company’s shares are up about 4% in after-hours trading, at $45.00 in a 52-week range of $29.52 to $47.17. Thomson Reuters had a consensus analyst price target of around $45.00 before today’s results were announced.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.