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March 18, 2008 3:11 PM
Goldman: Adobe beats street, but economy stinks ...
Posted by Brier Dudley
Check out the bearish tone of Goldman Sachs' quick take on Adobe's smoking earnings report today:
The report noted that Adobe beat several estimates: Its cash flow was up 48 percent, its earnings per share was 48 cents (vs. analysts' estimated 45 cents) and it's forecasting 13 percent annual sales growth.
"This guidance points to ongoing strength in creative suite sales, in our view, and we believe that the bottom line is helped by continued share repurchases. Despite management’s guidance, we remain cautious on the deteriorating macro environment that could likely dampen demand in future quarters."
Yikes.
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Gadgets and games | Fun stuff I've written about lately includes Apple's iPhone, Hewlett-Packard's HDX laptop and Microsoft's Halo3. Also on the radar are new digital video boxes such as the Tivo HD and the Vudu.