SAN JOSE, Calif. — Adobe Systems Inc., the maker of Photoshop, Acrobat and Flash software, said Tuesday that net income for its fiscal second quarter grew 54 percent from a year ago as revenue rose 9 percent. It reaffirmed its sales target for the year.
Net income in the three months to June 3 climbed to $229.4 million, or 45 cents per share, from $148.6 million, or 28 cents per share, a year ago.
Excluding stock-based compensation expenses, an income tax windfall and other items, adjusted earnings came to 55 cents per share, more than the 51 cents per share expected by analysts polled by FactSet.
Revenue grew to $1.02 billion from $943 million a year ago, beating the $996 million expected by analysts.
Adobe said it expected third-quarter revenue between $1 billion and $1.05 billion. The mid-point is higher than the average analyst estimate of $1.02 billion.
The company said it also expects to post 50 cents to 56 cents per share of adjusted earnings in the third quarter, roughly in line with the 54 cents analysts are looking for.
Adobe reaffirmed its target for sales to grow 10 percent in the current fiscal year. That would put it on track to post annual revenue of $4.18 billion, above the $4.11 billion analysts are expecting.
Despite the solid outlook, Adobe’s shares fell $1.11, or 3.5 percent, to $30.90 in extended trading. The stock had closed the regular session up $1.06, or 3.4 percent, at $32.01.
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