Adobe Q3 Results Top Estimates; Sees Q4 Below Consensus

(RTTNews) - Adobe Systems Inc. (ADBE) reported net income for the third quarter of $174.5 million or $0.34 per share, compared to $44.7 million or $0.09 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $275.4 million or $0.54 per share, compared to $140.6 million or $0.28 per share in the prior year quarter.

Total revenue for the third quarter rose 21% to $1.22 billion from $1.01 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.50 per share on revenue of $1.21 billion for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $1.275 billion to $1.325 billion, earnings of $0.32 to $0.38 per share and adjusted earnings of $0.56 to $0.62 per share. Analysts currently expect the company to earn $0.64 per share on revenue of $1.36 billion for the fourth quarter.