Adobe is cutting its second quarter outlook due to the Japan earthquake, tsunami and its aftermath, as the country represents Adobe's second largest country based on revenue.
For the fiscal second quarter, Adobe projected revenue of $970m (£594m) to $1.02bn. Non-GAAP earnings will be 47 cents a share to 54 cents a share. GAAP earnings will be about 33 cents a share to 40 cents a share. Wall Street was looking for non-GAAP earnings of 56 cents a share on revenue of $1.03bn."Japan is our second largest country from a revenue perspective, and March is typically our biggest revenue month of the year there due to fiscal year-end spending. Given the uncertain business environment in Japan, we are being prudent and have reduced our revenue expectation for our second quarter by $50m — or roughly one-third of our original Q2 revenue expectation for Japan," Mark Garrett, Adobe's chief financial officer, said in a statement.
For more on this ZDNet UK-selected story, see Adobe: Strong first quarter, but outlook cut over Japan on ZDNet.com.
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