Adobe Posts Higher than expected 3Q Earnings
Adobe posted earnings on Thursday, detailing higher revenue, but saw profits fall over 30 percent.
The company said that its fiscal third-quarter profit fell 35 percent, citing charges related to the acquisition of Macromedia Inc.
Revenue was $94.4 million, down 16 cents per-share from the previous year of $144.9 million.
For the period ending Sept. 1, climbed to $602.2 million from $487 million as the firm reaped the benefits of its Macromedia acquisition late last year.
Excluding one-time items and stock-option expenses, Adobe would have posted a profit of 29 cents a share. Analysts polled by Thomson Financial forecast a profit of 26 cents per share,
on revenue of $595.3 million.
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