Adobe: Fiscal 3Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Adobe Systems Inc. (ADBE) on Tuesday reported fiscal third-quarter earnings of $792.8 million.
The San Jose, California-based company said it had profit of $1.61 per share. Earnings, adjusted for one-time gains and costs, came to $2.05 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The software maker posted revenue of $2.83 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $2.81 billion.
For the current quarter ending in November, Adobe expects its per-share earnings to be $2.25. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.29.
The company said it expects revenue in the range of $2.97 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $3.02 billion.
Adobe shares have risen 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $285.15, an increase of slightly more than 6% in the last 12 months.