Adobe Forecast Misses Estimates as Quake Curbs Japan Sales
This article is for subscribers only.
Adobe Systems Inc., the largest maker of graphic-design software, forecast second-quarter profit that fell short of analysts’ estimates as the earthquake and tsunami in Japan cut into sales.
Profit excluding some costs will be 47 cents to 54 cents a share in the current quarter, Adobe said today in a statement. That compared with the 56-cent average of analysts’ projections compiled by Bloomberg. Revenue will be $970 million to $1.02 billion, Adobe said. Analysts estimated sales of $1.04 billion.