Adobe shares plummet on dismal 4th quarter guidance

“Adobe reported fiscal third quarter earnings Tuesday that beat analyst expectations, but shares of the software maker tumbled in extended trade on dismal fourth quarter guidance that fell far short of Street estimates,” CNBC reports.

Advertisement: Apple Store Online: Save up to $100 on a new Mac and printer. Free shipping. Order now.

MacDailyNews Note: Adobe earned 54 cents per share in its fiscal third quarter vs. analysts consensus expectation of 49 cents per share. Revenue increased 42% to $990.3 million vs. expectations of $985 million.

CNBC reports, “Guidance for the fourth quarter placed expected revenue in the range of $950 million-$1 billion, considerably less than $1.03 billion expected by analysts.”

MacDailyNews Note: Following Adobe’s earning release, in after-hours trading, ADBE shares were down nearly 15%.

Full article here.

MacDailyNews Take: Suggestion: Less whining, ingrates, and more work.