Adobe announces record earnings forecasts

<P align=center><img src="http://cdn.mos.techradar.com//classifications/computing/software/graphics-and-media/images/adobe-cs5-box-200-200.jpg"></P> <br /><P>Design and video software specialist Adobe has issued record earnings forecasts considerably above projections from Wall Street, causing shares in the company to surge this week.</P><br /><P>The Photoshop and Flash developer forecast this week that it will post a profit this current quarter of between 54 and 59 cents a share, beating Wall Street predictions of 51 cents a share.</P><br /><P>Adobe's projected revenue for the quarter is in excess of $1 billion, slightly ahead of the average forecast of $992 million from analysts.</P><br /><P>So much for a weak economy battling its way out of recession!</P><br /><P><STRONG>Weakness in educational sector</STRONG></P><br /><P>Three months ago, Adobe was concerned that it would not meet its forecasted earnings due to recessionary problems in western markets such as the US and Japan. </P><br /><P>"Overall, the economy has improved a lot since then," Global Equities Research analyst Trip Chowdhry told Reuters this week, following the latest financial news from Adobe.</P><br /><P>The only slightly bad news for Adobe was the fact that sales at its creative solutions business, which develops Creative Suite 5, declined to $542 million in the fourth quarter from $550 million in the last quarter. </P><br /><P>Adobe put this down to a slight downturn in the educational market in the US and a weak economy in Japan.</P>

Adobe announces record earnings forecasts

Design and video software specialist Adobe has issued record earnings forecasts considerably above projections from Wall Street, causing sh...

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