(AOF) – Adobe is expected to decline sharply on Wall Street after presenting disappointing revenue forecasts last night. The publishing and marketing software company posted net profit of $620 million, or $1.36 per share, in the first quarter ended in early March, up from $1.25 billion, or $2.71 per share. one year earlier. Excluding exceptional items, earnings per share came to $4.48, beating the Bloomberg consensus by 10 cents.
Revenue rose 11% to $5.18 billion, compared with expectations of $5.14 billion. It increased by 12% at constant exchange rates.
Annualized recurring revenue (ARR), a key group metric, for digital media reached $15.76 billion at the end of the quarter. New annualized recurring revenue for this segment amounted to $432 million. ARR predicts 12-month revenue based on subscriptions purchased.
In the second quarter, the technology firm is targeting adjusted earnings per share of between $4.35 and $4.40 on revenues of between $5.25 and $5.30 billion. According to Bloomberg, Wall Street anticipates $4.38 and $5.31 billion respectively. It anticipates $440 million in new annualized recurring revenue for its digital media arm. The target market is $459 million.
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