Adobe's first-quarter forecast misses estimates; shares fall
New York: Adobe Systems Inc, the maker of Photoshop and Acrobat software, forecast current-quarter results below analysts` estimates, sending its shares down as much as 5 percent in extended trading.
Adobe said it expects revenue of $950 million to $1 billion in the first quarter.
The company forecast adjusted earnings of between 22 cents and 28 cents per share.
Analysts on average were expecting earnings of 34 cents per share on revenue of $1.02 billion.