Adobe reported higher profits for its fiscal third quarter but the negative impact of currency may have caused the shares to initially dip 2% after hours.
Adobe Systems (ADBE) stock recovered some of that initial drop, with shares off 12 cents, or 0.36%, to $33.00 about 40 minutes after the� close. The shares rose 1.7% in regular trading Wednesday.
The San Jose, Calif. software company reported net income of $201.4 million, or 40� cents per share, on a GAAP basis.� On a non-GAAP basis, Adobe reported net income of $291.2 or 58 cents per share. Both figures were slightly ahead of the year-ago quarter on a per-share basis.
Revenue came in at $1.071 billion, which was within the company’s targeted range. Quarterly comparisons are are available in the press release here.
Adobe said currency had a negative impact of $9 million, which analysts were watching as we noted in this post earlier this week.
Adobe also saw more cloud subscriptions than it had projected, meaning a licensing model that moved about $29 million more in perpetual revenue to its “Creative Cloud.”
Adobe is holding a conference call here at 5 p.m. EST.
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