Projects all 2014 to be 1.10 instead of consensus 1.60... huge downward revision,
then says they might earn 3.00 in 2015 and it goes up ? How do they get away with this ?
Is this even legal ???????????????????
Correction. 1.10 in 2014 "maybe" 2.00 in 2015. Maybe 3.00 in 2015.
This is ridiculous !
The Photoshop maker reported a Q4 EPS of $0.32, which was inline with Wall Street's estimates.
Earnings per share were down 48 percent from the year-ago period.
Revenue came in at $1.04 billion versus the slightly lower Street estimate of $1.03 billion. Sales were down 10 percent year-over-year.
"Adobe has redefined the Creative and Digital Marketing categories with its industry-leading Cloud offerings,” Shantanu Narayen, President and CEO of Adobe, said in a company release. "Creative Cloud and Adobe Marketing Cloud are the clear market leaders and are poised for accelerated growth."
"We are leading the software industry in transitioning our business to the Cloud, which is enabling us to target higher top-line growth and greater recurring revenue," added Mark Garrett, Executive VP and CFO of Adobe, who was also quoted in the company release. "We are raising our long-term revenue growth targets, with a compound annual revenue growth rate of 20 percent between fiscal year 2014 and fiscal year 2016."
Adobe expects its first quarter EPS to be between $0.22 and $0.28 versus the Street estimate of $0.33.
The company expects its FY2014 EPS to come in at $1.10 -- well below the Street estimate of $1.61.
The company hopes to turn things around in the coming years by achieving an FY2015 EPS of $2.00 and an FY2016 EPS of $3.00.