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Adobe: Fiscal Q2 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal second-quarter net income of $1.69 billion.
The San Jose, California-based company said it had net income of $3.94 per share. Earnings, adjusted for one-time gains and costs, were $5.06 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.96 per share.
The software maker posted revenue of $5.87 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $5.79 billion.
For the current quarter ending in August, Adobe expects its per-share earnings to range from $5.15 to $5.20.
The company said it expects revenue in the range of $5.88 billion to $5.93 billion for the fiscal third quarter.
Adobe expects full-year earnings in the range of $20.50 to $20.70 per share, with revenue ranging from $23.5 billion to $23.6 billion.
Adobe shares have decreased 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $413.68, a decrease of 10% 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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