Adobe: Sales Stink, Profits Fine

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How’s Adobe’s (ADBE) software selling in the recession? Not as well as expected. But profits are in shape.

Adobe said it expects to report Q1 sales between $783-$786 million, below the Street’s $806 million expectations. But it says Q1 EPS will range between $0.44 and $0.45, above the Street’s $0.43 expectations.

For Q2, Adobe expects sales between $675-$725 million, significantly below the Street’s $798 million consensus.

That’s good enough for investors, which sent shares up 7% in after-hours trading.

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