Adobe Systems posts 4Q loss, hurt by charges
Adobe, the maker of Photoshop and Flash software, is reporting a net loss for its fiscal fourth quarter, weighed by charges.
But adjusted earnings and sales surpassed Wall Street's estimates and the company says customer demand is improving.
Adobe Systems Inc., which is based in San Jose, Calif., said Tuesday its net loss for the September-November period totaled $32 million, or 6 cents per share. That is down from a profit of 46 cents per share a year earlier.
Stripping out special items such as restructuring charges and unspecified income tax adjustments, Adobe earned 39 cents per share.
Analysts polled by Thomson Reuters had expected a profit of 37 cents per share.
Sales fell 17 percent to $757.3 million, which is slightly above what Wall Street was predicting.