Adobe lifts earnings forecast on tax reform boost

(Reuters) - Photoshop maker Adobe Systems Inc on Monday lifted its forecast for yearly earnings per share, helped by new U.S. tax laws, saying it expects its effective tax rate to decline "substantially."

Adobe said it expects earnings of $6.20 per share for fiscal year 2018, up from a previous forecast of $5.50.

Shares of the company rose more than 5 percent to $208.02 in after-hours trading.

(Reporting by Munsif Vengattil in Bengaluru; editing by Sai Sachin Ravikumar)