SAN FRANCISCO (MarketWatch) - Adobe Systems (ADBE) on Tuesday reported a fiscal third-quarter profit of $83 million, or 16 cents a share, compared with a profit of $201.4 million, or 40 cents a share, for the year-earlier period. Revenue slipped to $995.1 million from $1.08 billion. Adjusted profit was 32 cents a share. Analysts polled by FactSet on average were expecting the software company to post a profit of 34 cents a share, on revenue of $1.01 billion. Adobe reported that its paid Creative Cloud subscribers jumped sharply to more than a million, highlighting its shift to a new business model that has won praise from some analysts. Adobe shares were up 4% in after-hours trading.
-Benjamin Pimentel; 415-439-6400; AskNewswires@dowjones.com
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09-17-13 1618ETCopyright (c) 2013 Dow Jones & Company, Inc.
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