Adobe Beats Estimates

The company guides its third quarter in line with expectations.
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SAN FRANCISCO - Adobe Systems (ADBE) - Get Report outpaced the Street's second-quarter expectations Monday.

The San Jose, Calif., software company's revenue grew 19% to $886.9 million, from $745.6 million in the same quarter of last year. Analysts were expecting revenue of $880 million, according to Thomson Reuters.

Net income jumped 41% to $214.9 million, or 40 cents a share, from $152.5 million, or 25 cents a share, in the year-ago period.

Excluding items, EPS was 50 cents. On that basis, analysts were looking for EPS of 46 cents.

Shares were down 35 cents, or 0.8%, to $42.50 in extended trading.

For the third quarter, Adobe expects revenue of $855 million to $885 million and EPS, excluding items, of 45 cents to 47 cents. Analysts were expecting a top line of $878 million and EPS, less items, of 45 cents.