Adobe Falls as Drop in Revenue Exceeds Expectations
Adobe (ADBE) - Get Adobe Inc. Report was down 6% in preopen Instinet trading after the document-sharing software maker said third-quarter revenue was below analysts' estimates and down from the same period last year.
Adobe said pro forma earnings for its fiscal third quarter fell to 28 cents a share, in line with analysts' estimates and down from 29 cents in the year-earlier period.
Revenue fell to $292.1 million from $328.9 million in the quarter a year earlier. Analysts were expecting revenue of $319.12 million, according to Thomson Financial/First Call.
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