Adobe Forecast Misses Amid Move to Subscriptions
This article is for subscribers only.
Adobe Systems Inc. forecast fiscal fourth-quarter sales and profit that missed analysts’ estimates as the company offered a lower-priced subscription version of its flagship Creative Suite software.
Revenue for the current quarter, which ends Nov. 30, will be $1.075 billion to $1.125 billion, San Jose, California-based Adobe said in a statement yesterday. That fell short of the average analyst estimate of $1.21 billion, according to data compiled by Bloomberg. Profit excluding certain items will be 53 cents to 58 cents a share, less than the 67 cent estimate.