Interested? Contact Us
Adobe lifts earnings forecast on tax reform boost
(Reuters) - Photoshop maker Adobe Systems Inc (ADBE.O) on Monday lifted its forecast for yearly earnings per share, helped by new U.S. tax laws, saying it expects its effective tax rate to decline “substantially.”
Adobe said it expects earnings of $6.20 per share for fiscal year 2018, up from a previous forecast of $5.50.
Shares of the company rose more than 5 percent to $208.02 in after-hours trading.
Reporting by Munsif Vengattil in Bengaluru; editing by Sai Sachin Ravikumar
Our Standards:The Thomson Reuters Trust Principles.
Stay Informed
When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.
