Publishing software maker Adobe Systems on Wednesday cut its third-quarter revenue forecast by 10 percent and lowered its earnings forecast as much as 25 percent on weaker than expected July sales.
Adobe now sees revenue for the current quarter that will end Aug. 30 at $270 million to $290 million, down about 10 percent from its previous forecast of $300 million to $320 million, citing particularly weak sales in Japan and Europe.
"This is a difficult global business environment and I am disappointed we had to reset our Q3 targets," Adobe President and Chief Executive Bruce Chizen said in a statement. "