Adobe (ADBE) Falls on In-Line Q2 Results

Shares of Adobe Systems (Nasdaq: ADBE) are trading about 2% lower this evening on the back of in-line Q2 EPS and slightly better-than-expected quarterly sales reported after the close today. The stock most recently traded at $27.40.

Adobe reported a 30% drop in its Q2 non-GAAP earnings, down from $0.50 last year to $0.35 in the most recent quarter. For sales, the company reported a 20% decline from $886.9 million to $704.7 million during Q209.

Looking ahead to Q3, Adobe sees Q3 sales of $665-$715 million, which compares to the Street estimate of $676 million. EPS for the quarter are expected to be $0.30-$0.37, versus the analyst consensus of $0.33.

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