Adobe Systems (ADBE) issued a “good” fiscal Q4 guidance following “impressive” results in fiscal Q3, Oppenheimer said in a note to clients Friday.
For fiscal Q3, the company saw another 10% plus beat in net new digital media annual recurring revenue, mid-teen’s digital media revenue growth and the fastest earnings per share growth in two years, according to the note.
“Adobe had an excellent quarter, and we carry a favorable view of management’s execution and its future,” Oppenheimer analysts said.
The company estimates fiscal Q4 revenue of $4.98 billion to $5.03 billion and non-GAAP earnings of $4.10 to $4.15 per share. Analysts surveyed by Capital IQ expect revenue of $5.02 billion and non-GAAP EPS of $4.14.
Adobe also expects net new digital media ARR of about $520 million and digital media revenue of $3.67 billion to $3.70 billion, compared with analysts’ consensus of $463 million and $3.66 billion, respectively.