Adobe forecasts fiscal 2018 revenue, profit above expectations

(Reuters) – Photoshop maker Adobe Systems Inc forecast better-than-expected revenue and profit for fiscal 2018 on growth in its cloud business, sending its shares up 5 percent in extended trading.

The company said on Wednesday that it expects revenue of $ 8.7 billion and profit of around $ 5.50 per share for fiscal 2018.

Analysts were expecting revenue of $ 8.68 billion and profit of $ 5.21 per share, according to Thomson Reuters I/B/E/S.

Reporting by Laharee Chatterjee; Editing by Sriraj Kalluvila