Adobe Shares Rise as Sales Forecast Tops Analysts’ Estimates
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Adobe Systems Inc. rose the most in more than three months after its first-quarter sales forecast beat some estimates, boosted by demand for tools that design Web pages and create online video.
Revenue in the quarter that ends March 3 will be $1.03 billion to $1.08 billion, the company said in a statement. Analysts had projected $1.06 billion on average, with estimates ranging as low as $1.02 billion, according to data compiled by Bloomberg. Excluding certain items, profit will be 54 cents to 59 cents a share, compared with an average 58-cent estimate.