Adobe Quarterly Results Beat Estimates


Adobe Systems Inc (NASDAQ:ADBE), the maker of Photoshop and Acrobat software, reported better-than-expected quarterly profit and revenue, helped by higher subscription sales of its Creative Cloud and Marketing Cloud suites.

The company's net income rose to $88.5 million, or 17 cents per share, in the second quarter ended May 30, from $76.5 million, or 15 cents per share, a year earlier.

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Excluding items, the company earned 37 cents per share, beating the average analyst estimate of 30 cents per share.

Revenue rose about 6 percent to $1.07 billion. Analysts on average had expected $1.03 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Soham Chatterjee in Bangalore; Editing by Maju Samuel)