Adobe cuts its revenue forecast

ADOBE Systems posted first-quarter profit above Wall Street estimates, but cut its second-quarter revenue expectations by $50m (£30.5m), citing the uncertain business environment in Japan following the earthquake.

Japan accounted for about 13 per cent of Adobe’s sales in 2010.

The world’s biggest maker of design software forecast current-quarter profit, excluding items, of 47-54 cents a share, on revenue of $970m-$1.02bn. Analysts were expecting second-quarter earnings of 56 cents a share, excluding items, on revenue of $1.03bn.