Adobe: Fiscal Q3 Earnings Snapshot – mySA

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADBE at https://www.zacks.com/ap/ADBE

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