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Adobe beats 3Q net income expectations(Associated Press Via Acquire Media NewsEdge) SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Tuesday reported earnings of $44.7 million in its fiscal third quarter. The San Jose, California-based company said it had profit of 9 cents per share. Earnings, adjusted for one-time gains and costs, were 28 cents per share. The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share. The software maker posted revenue of $1.01 billion in the period, which fell short of Street forecasts. Analysts expected $1.02 billion, according to Zacks. Adobe shares have risen 18 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $70.78, an increase of 47 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. A stock research report on ADBE from Zacks is available at: http://www.zacks.com/ap/ADBE Keywords:Adobe,Earnings Report Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |