Adobe Systems' sales and profit drop

San Jose-based Adobe Systems said its second-quarter sales and profit declined compared with the same period a year ago, but its earnings were in line with Wall Street’s forecast.

The software company said it made a $76.5 million profit on sales of about $1.1 billion for the three month period that ended on May 31. That worked out to earnings of 15 cents per share, which was what analysts surveyed by Thomson-Reuters generally had expected.

But during the same  period last  year, Adobe had a much bigger profit – nearly $224 million, on sales of $1.1 billion.

Steve Johnson Steve Johnson (263 Posts)

Steve Johnson covers the microchip industry, cyber security and the big-technology sector that includes Hewlett-Packard, Oracle and Cisco Systems.