=====Adobe Systems (ADBE) reported Q2 earnings on Tue 21 June 2016 (a/h)

Q2 earnings: revenue beat, guidance miss

For the quarter that ended May, the San Jose, Calif.-based tech company reported a second-quarter net income of $244.1 million, or 48 cents per share. On an adjusted basis, when taking out one-time gains and costs, earnings came to 71 cents per share. Not only did that mark a 48% rise from the year-ago quarter, it beat Wall Street's estimates by 3 cents. (See also: Adobe Stock Declines Ahead of Q2 Earnings.)

The software maker posted fiscal second-quarter revenue of $1.4 billion, which matched Street forecasts and marked a year-over-year increase of 20.8%. During this quarter, the company reported that deferred revenue grew to $1.68 billion. Revenue was boosted by a 26% rise in the Digital Media segment, reaching a record $943 million, while Creative revenue grew 37% to a record $755 million.

"Adobe’s cloud solutions are powering digital transformation at the world’s biggest brands, educational institutions and government agencies," said CEO Shantanu Narayen in a statement. "Our record revenue reflects our market leadership and the exploding demand for digital experience solutions."

But the company's guidance failed to reflect the CEO's confidence, spooking investors. For the fiscal third-quarter, Adobe expects earnings per share (EPS) in the range of 69 cents to 79 cents, while revenue is seen in the range of $1.42 billion to $1.47 billion. Both ranges compare to consensus of 71 cents in EPS on $1.47 billion in revenue for the coming quarter.