Adobe forecasts 2016 profit, revenue below estimates

Reuters News
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Posted: Oct 06, 2015 4:19 PM

(Reuters) - Adobe Systems Inc forecast 2016 revenue and profit below estimates, sending its shares down 8 percent in after-market trading.

The Photoshop maker said it expects full-year revenue of about $5.7 billion, well below the average analyst estimate of $5.93 billion.

Adobe forecast an adjusted profit of $2.70 per share. Analysts on average estimate $3.19, according to Thomson Reuters I/B/E/S.

The company's shares were down at $78.30 after closing at $85.15 on the Nasdaq on Tuesday.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Maju Samuel)