SAN JOSE, Calif. (AP) - Adobe Systems Inc. (ADBE) reported fiscal first-quarter profit of $955 million.
On a per-share basis, the San Jose, California-based company said it had net income of $1.96. Earnings, adjusted for one-time gains and costs, came to $2.27 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.
The software maker posted revenue of $3.09 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $3.04 billion.
For the current quarter ending in June, Adobe expects its per-share earnings to be $2.35. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.25.
The company said it expects revenue in the range of $3.18 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $3.08 billion