Adobe Systems Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Adobe Systems Inc. (ADBE) reported earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $1.14 billion, or $2.42 per share. This compares with $1.21 billion, or $2.52 per share, in last year's third quarter.

Excluding items, Adobe Systems Inc. reported adjusted earnings of $1.60 billion or $3.40 per share for the period.

Analysts on average had expected the company to earn $3.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.4% to $4.43 billion from $3.94 billion last year.

Adobe Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.14 Bln. vs. $1.21 Bln. last year. -EPS (Q3): $2.42 vs. $2.52 last year. -Analyst Estimates: $3.33 -Revenue (Q3): $4.43 Bln vs. $3.94 Bln last year.

-Guidance: Next quarter EPS guidance: $3.50 Next quarter revenue guidance: $4.52 Bln