Adobe: Fiscal Q3 Earnings Snapshot
News > Business News
Audio By Carbonatix
3:16 PM on Thursday, September 12, 2024
The Associated Press
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal third-quarter net income of $1.68 billion.
The San Jose, California-based company said it had profit of $3.76 per share. Earnings, adjusted for one-time gains and costs, came to $4.65 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.53 per share.
The software maker posted revenue of $5.41 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $5.37 billion.
For the current quarter ending in November, Adobe expects its per-share earnings to range from $4.63 to $4.68.
The company said it expects revenue in the range of $5.5 billion to $5.55 billion for the fiscal fourth quarter.
Adobe shares have fallen 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $584.91, an increase of almost 8% 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
