EmailAdobe (ADBE $25.93 +1.29) reported third quarter earnings of $0.55 per
share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus
Estimate of $0.54.
Revenues rose 2.3% year/year to $1.01 billion versus the $1.03 billion
consensus.
For the fourth quarter, the company expects to see earnings of $0.57 to $0.64,
excluding non-recurring items, versus the $0.58 Capital IQ Consensus Estimate;
sees upside revs guidance of $1.08 billion to $1.13 billion versus the $1.06
billion Capital IQ Consensus Estimate.
The Company's operating margin is targeted to be 26.5% to 29.5% on a GAAP basis,
and 36% to 38% on a non-GAAP basis. In addition, the co is targeting its share
count to be between 497-499 million shares, and it is targeting non-operating
expense between $17 million to $21 million. Adobe's GAAP and non-GAAP tax rates
are expected to be ~22%.
"We delivered strong earnings in the third quarter. At the high end of our
financial targets for our fourth quarter, we will achieve our 10% annual revenue
growth target as well as earnings growth of 20% for the fiscal year."
than one year.
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