raised its second-quarter earnings and revenue estimates, saying sales of its well-received Creative Suite of graphics programs are brisk.
The company expects to earn 39 cents to 44 cents a share on revenue of $390 million to $410 million in the quarter ending June 4. Adobe had previously forecast earnings of 33 cents to 39 cents a share on revenue of $365 million to $385 million. Analysts surveyed by Thomson First Call had been forecasting earnings of 37 cents a share on revenue of $380.8 million.
The stock was recently up $1.50, or 3.6%, to $43 per share on the Instinet premarket session.
"The increase in targets was due to the greater-than-expected revenue thus far in the quarter for its Creative Suite and CS products and the Acrobat product family," the company said, adding that "all of its major geographic markets are performing well."