SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal third-quarter net income of $1.4 billion.
The San Jose, California-based company said it had net income of $3.05 per share. Earnings, adjusted for one-time gains and costs, were $4.09 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.97 per share.
The software maker posted revenue of $4.89 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $4.85 billion.
For the current quarter ending in November, Adobe expects its per-share earnings to range from $4.10 to $4.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.43.
The company said it expects revenue in the range of $4.97 billion to $5.03 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $4.6 billion.
Adobe shares have climbed 64% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $552.16, an increase of 49% in the last 12 months.
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