Adobe expects to exceed its forecast third-quarter profit, thanks to greater than expected revenue from its Creative Suite and Acrobat products.
On June 17 the company forecast profits of $0.31 to $0.36 on sales of $360 to $380 million. It has now increased these target ranges to revenue of $380 to $400 million, and earnings per share of $0.36 to $0.41.
Adobe said it is seeing "solid demand" for the Creative Suite – which includes Photoshop, Illustrator, InDesign and GoLive, and its Acrobat document software – in all of its major geographic markets.
Oppenheimer & Co analyst Sasa Zorovic told Bloomberg: "People are not only upgrading, they are upgrading to the premium versions of Adobe software." He rates Adobe shares "buy".
Adobe provided the intra-quarter business update for its third quarter of fiscal 2004 in the run up to its third quarter fiscal 2004 results, which are due on September 20.