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Adobe: Fiscal 2Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Adobe Systems Inc. (ADBE) on Thursday reported fiscal second-quarter profit of $1.1 billion.

On a per-share basis, the San Jose, California-based company said it had profit of $2.27. Earnings, adjusted for one-time gains and costs, were $2.45 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.

The software maker posted revenue of $3.13 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $3.17 billion.

For the current quarter ending in September, Adobe expects its per-share earnings to be $2.40. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.45.

The company said it expects revenue in the range of $3.15 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $3.28 billion.

Adobe shares have climbed 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $388.62, an increase of 41% in the last 12 months.


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