Adobe: Strong first quarter; outlook cut over Japan

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.