Adobe turns in a fourth-quarter profit as revenues beat forecasts

Adobe Systems issued an earnings forecast sharply above Wall Street projections yesterday, contrasting sharply from a pessimistic outlook three months ago when it was concerned about the weak economy.

The world’s biggest maker of design software marked a sharp contrast to the forecast issued in the last quarter when problems in key markets in Japan and the US educational sector caused Adobe to warn that revenue would fall short of Wall Street expectations. As a result, investors had been anxious about upcoming forecasts. But Adobe turned in a profit, excluding items, of 56 cents per share for the fourth quarter, which ended 3 December. That beat the average forecast of 52 cents.
Quarterly revenue of $1bn (£645m) beat the average forecast of $988m.