Capital2's Blog

Recruitment and Career advice for the High Tech and Banking Industries

Economic slowdown now to affect technology markets??

Yeah well we need that like a hole in the head eh! However Adobe’s forecast announcement yesterday seem to indicate that the economic slowdown is now affecting the tech / software market.

From Reuters:

Adobe forecast revenue in a range of $855 million to $885 million for the fiscal third quarter, which ends August 29. That compares with an average analyst forecast of $876 million according to Reuters Estimates.


“Some investors … were expecting a higher forecast,” said Goldman Sachs analyst Sasa Zorovic.


The company, the world’s biggest maker of design software, also forecast third quarter per-share profit before items at between 45 cents and 47 cents, compared with the average Wall Street estimate of 45 cents.


Chief Executive Shantanu Narayen said that, while Adobe has so far been able to meet its financial targets in the midst of the U.S. economic slowdown, its fate could change if conditions worsen.


June 17, 2008 - Posted by | Technology News |

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