Adobe: Strong first quarter; outlook cut over Japan
Japan represents Adobe's second largest country based on revenue and the company is cutting its second quarter outlook due to the earthquake, tsunami, and its aftermath.
Japan represents Adobe Systems' second-largest country based on revenue, and the company said today that is cutting its second-quarter outlook due to the earthquake, tsunami, and their aftermath.
For the fiscal second quarter, Adobe now projects revenue of $970 million to $1.02 billion. Non-GAAP earnings are expected to be 47 cents a share to 54 cents a share. Wall Street was looking ahead to non-GAAP earnings of 56 cents a share on revenue of $1.03 billion.
Adobe reported earnings for its first quarter, which ended March 4, of $234.6 million, or 46 cents a share, on revenue of $1.028 billion, up 20 percent from a year ago. Non-GAAP earnings were 58 cents a share. Wall Street was expecting earnings of 57 cents a share on revenue of $1.026 billion.
Read more of "Adobe: Strong first quarter, but outlook cut over Japan" at ZDNet's Between the Lines.