Adobe posts strong revenue on new launch

Adobe Systems forecast second-quarter revenue at above Wall Street estimates as it launches an upgrade to its flagship design software line.

Adobe, whose software includes Photoshop, Flash and Illustrator, also posted fiscal first-quarter profit and revenue ahead of expectations – the latest technology results to suggest demand for software, computers and related goods is on the rise.

Investors will get another chance to gauge tech demand when Oracle reports results.

"This company is clearly benefiting from the improving global economy," Steven Frankel, an analyst with Brigantine Advisors, said of Adobe.

Adobe, whose rivals include Microsoft and Apple, posted per share profit, excluding items, of 40 cents, for its fiscal first quarter ended March 5.

Follow Emirates 24|7 on Google News.