Adobe Turns In Profit on Strong Sales
Adobe Systems Inc. swung to a fiscal fourth-quarter profit, as strong product sales boosted revenue.
The software maker forecast first-quarter earnings of 54 cents to 59 cents a share on revenue of $1 billion to $1.05 billion. Analysts surveyed by Thomson Reuters expect earnings of 51 cents on revenue of $992 million for the current quarter.
In after-hours trading on Monday, Adobe shares were up 4.5% to $30.48 on the Nasdaq Stock Market.