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

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Linux distributor Red Hat reports 20.6 percent rise in revenue

(Reuters) – Red Hat Inc (RHT.N) reported a 20.6 percent rise in quarterly revenue as the Linux operating system distributor benefited from higher demand for its products targeting hybrid cloud.

Net income rose to $ 96.9 million, or 53 cents per share, in the second quarter ended Aug. 31, from $ 58.8 million, or 32 cents per share, a year earlier.

The company’s revenue rose to $ 723.4 million from $ 599.8 million.

Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel

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