Adobe Systems Inc., the top maker of graphic-design programs, rose in extended trading yesterday after saying first-quarter profit will exceeded analysts’ estimates, lifted by resurgent sales of publishing software.
Excluding some costs, profit will be 54 cents to 59 cents a share in the period ending in February, San Jose, California- based Adobe said yesterday in a statement. Analysts had estimated 51 cents on average, according to data compiled by Bloomberg.
Sales of Creative Suite 5, released in April, are rebounding from a lull earlier in the year. Adobe had cited lackluster back-to-school demand in September when it issued a forecast that trailed analysts’ predictions. Creative Suite, which includes the Photoshop and Illustrator programs, is used by graphic designers, advertising agencies and schools.
“We definitely saw demand improve,” Chief Financial Officer Mark Garrett said in an interview. “We certainly expect that to continue.”
Adobe rose $1.54, or 5.3 percent, to $30.72 in extended trading. The shares are down 21 percent this year through yesterday’s Nasdaq Stock Market close.
The company targeted first-quarter revenue of $1 billion to $1.05 billion. Analysts had predicted $991.9 million.
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