Adobe cuts its revenue outlook

Adobe Systems, maker of Photoshop and Acrobat software, yesterday cut its full-year revenue outlook as weak demand in Europe could affect sales of the recently launched versions of its design software. Adobe now expects revenue growth of six per cent to seven per cent, implying full-year revenue of $4.47bn to $4.51bn and an adjusted profit of $2.40 to $2.46 per share. It earlier forecast a profit of $2.38 to $2.48 per share, excluding items, and revenue growth of six per cent to eight per cent. Adobe shares fell four per cent to $31.65 in trading after the bell.