Adobe’s Profit Beats Forecasts

Adobe Systems Inc., the top maker of desktop graphics software, reported better-than-expected profit for the fiscal first quarter and said its results may beat forecasts for the fiscal second quarter as well. Adobe’s profit rose to $38.3 million, or 60 cents a share, in the latest quarter, up from $26.7 million, or 38 cents, a year ago, with a boost from sales of its latest version of Illustrator software and from expense controls. Analysts were expecting 52 cents, according to First Call Corp. Revenue increased 15% to $226.9 million. The earnings announcement was made after the markets closed. The San Jose-based company said it expects second-quarter earnings of between 62 cents and 66 cents a share, compared with analyst expectations of 56 cents. Adobe shares rose 63 cents to close at $49.75 on Nasdaq.