US Report: Adobe earnings even worse than promised

Adobe Systems Inc. (Nasdaq:ADBE) promised a disastrous third quarter when it issued a profit warning last month and it kept its word.

Adobe Systems Inc. (Nasdaq:ADBE) promised a disastrous third quarter when it issued a profit warning last month and it kept its word. Adobe earned only $152,000 (£91,539), or 1 cent a share, on sales of $222.9 million (£134.2 million), well below the revised 38-cent-a-share consensus estimate. Prior to the profit warning, First Call consensus expected Adobe to earn 50 cents a share in the quarter.