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Adobe gives Q1 revenue warning

ADOBE Systems Inc late on Wednesday warned that first-quarter revenue won't meet analysts' estimates amid a business downturn, but said earnings will still meet forecasts.

The maker of such software products as Adobe Acrobat and Flash said it expects to record revenue of US$783 million to US$786 million for the quarter. That's down from a prior internal target of US$800 million to US$850 million, and below the average US$792 million estimate of analysts polled by Thomson Reuters.

But earnings will hold up to expectations. Adobe still expects to post earnings per share of 30 US cents, and adjusted profit of 44 US cents or 45 US cents per share.

"Despite worsening market conditions, we were able to manage expenses to deliver earnings and margin results within the target ranges we provided," Chief Executive Shantanu Narayen said.


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