Adobe Systems Earnings Top Expectations
Adobe Systems reported earnings that outpaced expectations, driven by growth in sales of programs for photo editing, Web creation and graphics design.
Excluding items, Adobe reported a second-quarter profit of 50 cents a share on sales of $886.9 million for its second quarter.
In the same period last year, the company earned 37 cents a share on sales of $746 million.
Analysts' projections put the company's performance for the quarter at 46 cents a share on a topline of $880 million.
Adobe also forecast earnings per share before items and revenue for the current quarter that were largely in line with or ahead of analyst expectations.
For its current, third quarter, Adobe said it expects a per-share profit before items of 45 cents to 47 cents and revenue in a range of $855 million to $885 million. Analysts currently expect a third-quarter profit of 45 cents per share on average on revenue of $876 million.
Shares of Adobe , which rose 0.33 percent to close at $42.85 Monday, dropped about 2.5 percent in extended electronic trading.
- Wire services contributed to this report.