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Adobe Cuts Annual Sales Forecast on Summer Demand, Currency

  • CEO says company ‘a little cautious’ amid economic uncertainty
  • Sales in creative products division jump 15% in the quarter
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Adobe Inc. reduced its annual revenue forecast, saying its business would be affected by currency fluctuations, seasonal shifts in demand and the decision to end sales in Russia and Belarus after the invasion of Ukraine. The shares declined about 3.5% in extended trading.

The forecast overshadowed a strong quarter for the maker of software for design professionals. Revenue increased 14% to $4.39 billion. Profit, excluding some items, was $3.35 cents a share in the period ended June 3, the San Jose, California-based company said Thursday in a statement. Both topped analysts’ estimates.