Adobe: Fiscal Q3 Earnings Snapshot
SAN JOSE, Calif. (AP) _ Adobe Systems Inc. (ADBE) on Thursday reported fiscal third-quarter net income of $1.14 billion.
The San Jose, California-based company said it had net income of $2.42 per share. Earnings, adjusted for one-time gains and costs, were $3.40 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.33 per share.
The software maker posted revenue of $4.43 billion in the period, matching Street forecasts.
For the current quarter ending in November, Adobe expects its per-share earnings to be $3.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.43.
The company said it expects revenue in the range of $4.52 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $4.6 billion.
Adobe shares have declined 34% since the beginning of the year. The stock has declined 42% in the last 12 months.