Adobe Systems Earnings Rise 62 Percent

The San Jose, Calif.-based software company also set its targets for the current quarter above current Wall Street expectations.

In the fiscal third quarter ended Sept. 3, Adobe earned $104.5 million, or 44 cents a share, on revenue of $403.7 million. In the same period last year, it earned $64.5 million, or 28 cents a share, on revenue of $319.1 million.

Excluding an investment loss from the company's venture program, earnings rose to $105.6 million, or 43 cents a share, from $66.3 million, or 28 cents a share.

Third-quarter results beat the company's most recent forecast. In early August, Adobe raised its third-quarter earnings outlook to a range of 36 cents to 41 cents a share, citing higher revenue from Adobe Photoshop and Acrobat software.

Analysts were expecting earnings of 39 cents a share on revenue of $391.2 million, according to Thomson First Call.

Adobe expects fourth-quarter earnings of 38 cents to 41 cents a share. The estimate exceeds analysts' projection of 37 cents a share and tops the year-ago income of 34 cents a share.

Adobe anticipates fourth-quarter revenue of $400 million to $415 million, beating Wall Street's expectations of $389.3 million and last year's $358.6 million.

In the nine months ended Sept. 3, the company earned $336.9 million, or $1.41 a share, on revenue of $1.27 billion. In the same period last year, it earned $183 million, or 79 cents a share, on revenue of $936.2 million.

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