(RTTNews) - Adobe Systems Inc. (ADBE) increased its fourth quarter EPS guidance to between $0.59 and $0.60 after the bell Wednesday, from prior expectations of $0.51 to $0.53. The company reduced its revenue forecast to between $912 million and $915 million, from prior guidance of $925 million to $955 million. First quarter revenues are expected to be between $800 million and $850 million, which is below the consensus estimate of $931.22 million. Adobe also announced that it will reduce its workforce by about 600 full-time positions globally. The stock is now down 2.04 on 323K shares.
Adobe Systems posted modest gains around mid-morning Wednesday and climbed higher going into the close. The stock finished up by 0.54 at $22.54.
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