Adobe: FQ4 Solid, 2008 But Guidance Disappoints

Adobe reported a solid FQ4, with revenue and EPS modestly above consensus. Company raised guidance for the Q1 2008, but spooked analysts by sticking to full-year revenue growth target of 13% (and therefore effectively cutting guidance for the rest of the year). Profit margin also a concern in the quarter. Company attributed this to one-time FQ4 expenses of $25 million.