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Technology / AI and automation

ADOBE EXPECTS TO POST Q3 FIGURES THAT BEAT STREET

Adobe Systems Inc anticipates that its third-quarter normalized results for the period to August 29 will exceed estimates. The San Jose, California company expects its earnings per share for the period to exceed the high end of First Call’s range of $0.42 to $0.49. The good news is attributed to a surge in applications shipments during the last week of the quarter and the launch of Adobe FrameMaker 5.5. The applications revenue surge more than offsets a decrease in licensing revenue, due in part, to price cuts made by Hewlett-Packard Co on monochrome laser printers and shipping problems in the Japanese market. The company is expected to report on September 19. Last quarter net income came in at $40.1m, or $0.54 per share, on revenue of $228.3m. In response to the news, Adobe shares rose $3.5625 to $44.5625.

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CBR Staff Writer

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