Adobe Rises After Sales Forecast Exceeds Analysts’ Estimates
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Adobe Systems Inc., the largest maker of graphic-design software, rose in U.S. trading after its sales forecast topped analysts’ estimates, boosted by demand for creating content and digital marketing.
Sales will be $1.08 billion to $1.13 billion in the fourth quarter, San Jose, California-based Adobe said yesterday in a statement. That beat the average $1.07 billion estimate of analysts, according to Bloomberg data. Excluding some items, profit will be 57 cents to 64 cents a share, compared with the 58-cent projection of analysts.