not vested
Adobe provided a sales outlook that met analysts’ expectations, but disappointed investors who expected demand for the company’s artificial intelligence (AI) tools would boost revenue.
Sales will be US$4.98 billion to US$5.03 billion in the period ending in November, the San Jose, California-based company said on Thursday (Sep 14). Analysts, on average, projected US$5 billion, according to data compiled by Bloomberg.
Profit, excluding some items, will be as much as US$4.15 a share, compared with the average estimate of US$4.06.
The company said fiscal fourth-quarter sales in the Digital Media unit, which includes signature offerings such as Photoshop, will be as much as US$3.7 billion, beating the average estimate of US$3.66 billion.
Revenue in the Digital Experience unit, which includes marketing and analytics software, will be about US$1.26 billion, meeting the average projection.
Fiscal third-quarter sales increased 10 per cent to US$4.89 billion, exceeding the average projection of US$4.87 billion.
Profit, excluding some items, was US$4.09 a share, compared with the average estimate of US$3.98.
Digital Media revenue gained 11 per cent to US$3.59 billion in the period ended Sep 1.
Sales in Digital Experience jumped 10 per cent to US$1.23 billion.
Source: Phillips