SAN JOSE, Calif. (AP) \u2014 SAN JOSE, Calif. (AP) \u2014 Adobe Systems Inc. (ADBE) on Thursday reported fiscal second-quarter net income of $1.71 billion.<\/p>\n
On a per-share basis, the San Jose, California-based company said it had net income of $4.25. Earnings, adjusted for stock option expense and asset impairment costs, were $5.96 per share.<\/p>\n
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.83 per share.<\/p>\n
The software maker posted revenue of $6.62 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $6.46 billion.<\/p>\n
For the current quarter ending in August, Adobe expects its per-share earnings to range from $6.05 to $6.10.<\/p>\n
The company said it expects revenue in the range of $6.67 billion to $6.72 billion for the fiscal third quarter.<\/p>\n
Adobe expects full-year earnings in the range of $24.35 to $24.45 per share, with revenue ranging from $26.5 billion to $26.6 billion.<\/p>\n
Adobe shares have dropped 37% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $220.68, a decrease of 47% in the last 12 months.<\/p>\n","protected":false},"excerpt":{"rendered":"SAN JOSE, Calif. (AP) \u2014 SAN JOSE, Calif. (AP) \u2014 Adobe Systems Inc. (ADBE) on Thursday reported fiscal…\n","protected":false},"author":2,"featured_media":254457,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[7,145411,2391,3263,5891,88,90,89],"class_list":["post-357078","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-jose","tag-california","tag-earns-adobe-systems","tag-package-100373-mc-complete-state-national","tag-product-30031-ap-california-state-news-no-weather","tag-product-30597-ap-business-news-f-wire","tag-san-jose","tag-san-jose-headlines","tag-san-jose-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/357078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=357078"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/357078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/254457"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=357078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=357078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=357078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}