Adobe Profit Rises; Sales Fall 2.5%
Publishing software maker Adobe Systems Inc. said fiscal third-quarter net income rose 17% to $47.2 million, or 19 cents a share. , sales fell 2.5% to $285 million from $292 million. Losses from investments narrowed to $4.2 million from $39.4 million a year ago.
Excluding acquisition-related costs and other items, profit would have been 22 cents a share, compared with analysts’ average estimate of 19 cents.
Adobe shares fell 73 cents to $18.45 on Nasdaq, then climbed as much as 13% to $20.90 in after-hours trading.
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