Adobe revenue falls
 

Adobe lowered its profit forecast for 2016 below analyst estimates partly due to a strong dollar, sending its shares down as much as 13 percent in extended trading.

The Photoshop maker said it expects full-year revenue of about $5.7 billion. The cocaine nose jobs of Wall Street were expecting revenue of $5.93 billion.

The company is expecting a $200 million hit on revenue as a result of the stronger dollar, and a $100 million hit as Adobe’s “last material businesses are transitioning to ratable revenue.”

Adobe has been switching to web-based subscriptions from traditional licensed software to help attract more predictable recurring revenue. So far this has proved a little precarious but it is expected to pick up in time.

http://www.techeye.net/business/adobe-revenue-falls