Adobe’s Lackluster Forecast Suggests Growing Competition
- Software maker says revising prices on some creative products
- Company reports quarterly sales increase 9% to $4.26 billion
Photographer: Daniel Acker/Bloomberg
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Adobe Inc. gave a disappointing outlook for the current period, suggesting increased competition is making a dent against the company’s prominent design software.
Revenue will be about $4.34 billion in the fiscal second quarter, the San Jose, California-based software vendor said Tuesday in a statement. On average, analysts projected $4.4 billion, according to data compiled by Bloomberg. Adobe said profit, excluding some items, will be about $3.30 a share. Analysts, on average, estimated $3.35 a share.