Adobe: Fiscal Q3 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal third-quarter net income of $1.83 billion.

On a per-share basis, the San Jose, California-based company said it had net income of $4.62. Earnings, adjusted for one-time gains and costs, were $6.13 per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $6.08 per share.

The software maker posted revenue of $6.76 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $6.69 billion.

For the current quarter ending in November, Adobe expects its per-share earnings to range from $6.30 to $6.35.

The company said it expects revenue in the range of $6.8 billion to $6.85 billion for the fiscal fourth quarter.

Adobe expects full-year earnings in the range of $24.45 to $24.50 per share, with revenue ranging from $26.58 billion to $26.63 billion.

Adobe shares have declined 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $249.54, a drop of 29% 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