Adobe Reports Inline, But Forecast is Weak

24/7 Wall St.

Adobe Systems Inc. (NASDAQ: ADBE) reported fiscal 2012 third quarter earnings after markets closed today. The software company reported adjusted earnings per share (EPS) of $0.58 on revenue of $1.08 billion. In the same period a year ago, the company reported adjusted EPS of $0.55 on revenue of $1.01 billion. Second-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.58 and $1.1 billion in revenue.

Adobe guided fourth fiscal quarter revenue at $1.075 billion to $1.125 billion and adjusted EPS at $0.53 to $0.58. The company’s guidance assumes the addition of 125,000 new subscribers to its Creative Cloud service.

The company’s guidance fell well short of the consensus estimates. Thomson Reuters had a consensus estimate for EPS of $0.67 on revenue of $1.21 billion.

The company’s president/CEO said:

Customers globally are adopting our new Creative Cloud subscription offering more quickly than we projected. We are…

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