SAN JOSE (dpa-AFX) - Enterprise software maker Adobe (ADBE) provided updated guidance on Tuesday, predicting strong growth over the next three years but giving 2016 projections that are below what market analysts are currently expecting.
As part of a 3-year financial plan, the maker of the Photoshop editing and Acrobat document-sharing software said it currently expects total revenue to grow about 20% on a compound annual rate over through fiscal 2018. Revenue from both its digital media segment and its marketing cloud unit are expected to top the 20% growth levels.
Adobe's bottom line will likely show even stronger growth, the company predicted. The firm's current estimates call for about 30% compound annual growth rate for the next three years.
For fiscal 2016, Adobe predicted about $5.7 billion in annual revenue. GAAP earnings per share are projected to come in at around $1.80. Non-GAAP earnings, which exclude the impact on special and non-recurring items, are seen coming in at about $2.70 per share.
Analysts are currently looking for the company to post a profit of $3.19 per share in fiscal 2016, which ends next November. Revenue was projected to come in at $5.9 billion.
Adobe issued its third-quarter earnings statement last month. The company is scheduled to release fourth-quarter results in December.
In its last earnings report, the company provided a disappointing forecast for the fourth quarter. Adobe predicted revenue of $1.275 billion to $1.325 billion, earnings of $0.32 to $0.38 per share and adjusted earnings of $0.56 to $0.62 per share.
At the time, analysts had predicted fourth-quarter results of $0.64 per share on revenue of $1.36 billion.
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