UPDATE: Adobe Posts Rise In FQ3 Profit, Issues Downbeat Forecast

Adobe Systems

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.