Adobe forecasts fiscal 2018 revenue, profit above expectations

Reuters News
Posted: Oct 18, 2017 4:38 PM

(Reuters) - Photoshop maker Adobe Systems Inc forecast better-than-expected revenue and profit for fiscal 2018 on growth in its cloud business, sending its shares up 5 percent in extended trading.

The company said on Wednesday that it expects revenue of $8.7 billion and profit of around $5.50 per share for fiscal 2018.

Analysts were expecting revenue of $8.68 billion and profit of $5.21 per share, according to Thomson Reuters I/B/E/S.

(Reporting by Laharee Chatterjee; Editing by Sriraj Kalluvila)