Wednesday, September 22, 2010

Adobe Earnings: Adobe Shares Tumble on Dismal 4th Quarter Guidance - CNBC

Adobe Earnings: Adobe Shares Tumble on Dismal 4th Quarter Guidance - CNBC

Adobe reported fiscal third quarter earnings Tuesday that beat analyst expectations, but shares of the software maker tumbled in extended trade on dismal fourth quarter guidance that fell far short of Street estimates.

Adobe Systems
Shares of software maker Adobe took a hit Tuesday after the company provided fourth quarter guidance that fell far short of Street estimates.

The software maker reported it earned 54 cents a share in its fiscal third quarter, beating expectations of 49 cents a share. Revenue for the quarter rose 42 percent to $990.3 million, mostly in line with expectations of $985 million.

Adobe said it earned higher revenue in every one of its business segments.

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