UPDATE: Adobe Posts Rise In FQ3 Profit, Issues Downbeat Forecast
Adobe Systems (NASDAQ: ADBE) reported a rise in its fiscal third-quarter profit.
Adobe's quarterly profit surged to $201.4 million, or $0.40 per share, from $195.1 million, or $0.39 per share, in the year-ago period.
Its revenue climbed to $1.08 billion, from $1.01 billion. Adobe's adjusted profit came in at $0.58 per share. However, analysts were projecting a profit of $0.58 per share on revenue of $1.1 billion.
For the current quarter, Adobe expects adjusted profit of $0.53 to $0.58 per share on revenue of $1.075 billion to $1.125 billion. However, analysts were projecting a profit of $0.67 per share on revenue of $1.21 billion.
Adobe shares fell 0.94% to $32.81 in after-hours trading.
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