Adobe Systems FY18 Outlook Strong; Shares Up 8%

(RTTNews) - Shares of Adobe Systems Inc. (ADBE) gained over 8 percent in extended session on Wednesday after the software maker issued financial outlook for the full year 2018 that easily trumps current estimates.

For the full year 2018, Adobe expects adjusted earnings of $5.50 per share and revenues of about $8.7 billion. Analysts currently estimate earnings of $5.21 per share and revenues of $8.68 billion.

Adobe reaffirmed its fourth-quarter outlook of earnings of $1.15 per share and revenues of $1.95 billion. Analysts currently estimate earnings of $1.16 per share and revenues of $1.95 billion.

"Adobe's vision has never been more clear or more relevant - to empower people and businesses to design and deliver amazing digital experiences," said Shantanu Narayen, president and CEO, Adobe. "The FY2018 targets we are providing today include revenue growth of 20 percent and earnings growth of 30 percent, and reflect our continued momentum and leadership."