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Adobe Inc NASDAQ:ADBE NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 298.41 296.00 297.99 431 10:04:10

Adobe's 2Q Guidance Misses Wall Street Targets

22/03/2022 8:54pm

Dow Jones News


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     By Maria Armental 
 

Adobe Inc. on Tuesday lowered a key subscription revenue metric and estimated a $75 million annual revenue hit from the war in Ukraine.

The company reduced its digital media annualized recurring revenue balance by $75 million, which it said represented all ARR for existing business in Russia and Belarus. And while it intends to continue offering those services in Ukraine, it said it had reduced ARR by an additional $12 million, which it said represents the entire digital media business in Ukraine.

This quarter, it expects to generate a profit of $2.44 a share, or $3.30 a share as adjusted, on $4.34 billion in revenue. That forecast, which it said factors in the current conditions, fell short of analysts' projection of $2.56 a share, or $3.35 a share as adjusted, and $4.4 billion in revenue, according to FactSet.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

March 22, 2022 16:39 ET (20:39 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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