Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

RBC Capital Cuts Adobe Systems to Sector Perform


RBC Capital Markets downgraded Adobe Systems (ADBE) to sector perform from outperform, after the company recently reported quarterly results.

The company said it had 17 cents earnings per share (under Generally Accepted Accounting Principles) in the first quarter, compared to 30 cents in the same period of last year.

Analyst Robert Breza says non-GAAP EPS of 32 cents in the first quarter beat his 29 cents estimate, but he remains concerned about the company's guidance. He says its second quarter revenue/EPS guidance of $655 million/31 cents (mid point) was below prior Street estimates of $675 million/32 cents. Among other things, he thinks Adobe Systems may be seeing signs of product cycle maturation. He thinks there's a lack of near term upside and reduced visibility.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus