The software maker Adobe Systems said Tuesday that its second-quarter profit and sales declined on weaker demand.
The company’s revenue in the quarter surpassed Wall Street’s expectations, however, and adjusted earnings met those estimates.
For the three months ended May 29, Adobe Systems said Tuesday that it earned $126.1 million, or 24 cents a share. That is down 41 percent from $214.9 million, or 40 cents a share, in the period a year ago.
Excluding special items, the company, based in San Jose, Calif., said it earned 35 cents a share, matching analysts’ forecasts.
Revenue fell 21 percent, to $704.7 million. That is slightly above the $694.8 million that analysts polled by Thomson Reuters predicted.
Source: www.nytimes.com
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