Street Applauds Adobe Systems
Looking forward, Adobe expects to earn 19 cents to 22 cents a share -- 32 cents to 34 cents excluding options costs -- in its fourth quarter on sales of $655 million to $685 million. At the midpoints, that works out to a pro forma profit of 33 cents a share on sales of about $670 million.
That's slightly above the Street's average forecast, which called for a profit of 32 cents a share, excluding charges, on $668.6 million in sales.
In the same period last year, Adobe earned $156.3 million, or 31 cents a share, on sales of $510.4 million. Excluding certain costs and gains, the company would have earned 30 cents a share in that quarter.
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