Shares of Adobe Systems Inc. (Nasdaq: ADBE), the top graphics software developer, were relatively flat in pre-market activity despite projecting fiscal fourth-quarter revenue and earnings that fell below expectations. The company has scheduled major cloud initiatives for next week.
Adobe shares fell 9 cents to $33.03 after reporting third-quarter resultson Wednesday that fell below expectations. Net income rose 3 percent to $201.4 million, or 40 cents a share, compared with the year-ago period’s $195.1 million, or 39 cents. Operating income was 58 cents a share, a penny below estimates, on revenue that rose 7 percent to $1.08 billion.
Fourth-quarter revenue will range between $1.075 billion and $1.125 billion, the company said, below the $1.21 billion expected by analysts.
So far in 2012, shares of the San Jose, Calif., company have risen more than 17 percent and nearly 30 percent over the past 52 weeks. The company said subscriptions to its cloud-based Creative Cloud suite of applications have reached 200,000 and should continue to rise into the fourth quarter and 2013.
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