SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal second-quarter net income of $1.57 billion.
The San Jose, California-based company said it had profit of $3.49 per share. Earnings, adjusted for one-time gains and costs, were $4.48 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.39 per share.
The software maker posted revenue of $5.31 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $5.28 billion.
For the current quarter ending in August, Adobe expects its per-share earnings to range from $4.50 to $4.55.
The company said it expects revenue in the range of $5.33 billion to $5.38 billion for the fiscal third quarter.
Adobe expects full-year earnings in the range of $18 to $18.20 per share, with revenue ranging from $21.4 billion to $21.5 billion.
Adobe shares have fallen 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $459.48, a fall of 4% 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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