raised its fiscal first quarter guidance Thursday, saying all of its major markets are performing well.
Adobe, best known for its Acrobat and Photoshop products, now expects to earn between 36 cents and 42 cents a share in the first quarter on revenue of $380 million to $405 million. That's up from a prior estimate of 33 cents to 36 cents a share on revenue of $360 million to $380 million. Analysts had been calling for 35 cents a share on sales of $371 million.
The firm said all of its major geographic markets are performing well. In addition, Adobe said it is experiencing a strong global launch of its new Adobe Creative Suite and CS products, as well as continued success with its Adobe Acrobat product line. The company plans to report its fiscal first quarter results on March 18.
The shares recently traded on the Island ECN at $38.10, up from their 4 p.m. EST close of $36.13.