Adobe Forecast Tops Expectations

Published by: Dave Simmons on 21st Dec 2010 | View all blogs by Dave Simmons
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Adobe Forecast Tops Expectations

Adobe Systems Inc. released its fiscal first-quarter forecast on Tuesday, predicting profits for the period ending in February at 54 to 59 cents per share, topping analysts' expectations of 51 cents per share.  The world's top maker of graphic-design related software, Adobe said sales of its Creative Suite 5, released in April, have increased late in the year after getting off to a slow start.

The company had previously cited lackluster demand at the beginning of the school year in September for a forecast that failed to meet analysts' expectations.  Shares of Adobe stock climbed $1.46 per share, or 5 percent, to $30.64 in early trading on the Nasdaq composite index.  The firm's target for first-quarter revenue was reported at $1 billion to $1.05 billion, surpassing economists' forecast of $991.9 million.

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