SAN FRANCISCO (MarketWatch) � Shares of Adobe Systems Inc. traded lower late Tuesday after the company reported a weaker-than-expected quarterly outlook.
Adobe�s stock ADBE �was down more than 3% in after-hours trading.
Adobe reported a fiscal second-quarter profit of $223.9 million, or 45 cents a share, compared with a profit of $229.4 million, or 45 cents a share, for the year-earlier period.
Revenue was $1.12 billion, up from $1.02 billion. Adjusted profit was 60 cents a share.
Analysts were expecting the software company to report 59 cents a share, on revenue of $1.11 billion, according to a consensus survey by FactSet Research.
For the current quarter, the company said it expects revenue in the range of $1.075 billion to $1.125 billion, and adjusted profit in the range of 56 cents to 61 cents a share.
Analysts were expecting a profit of 61 cents a share, on revenue of $1.134 billion, according to FactSet Research.
The company narrowed its fiscal-year 2012 revenue outlook growth target to a range of 6% to 7%, compared with a previous range of 6% to 8%.
Adobe also revised its fiscal-year 2012 adjusted profit outlook to a range of $2.40 to $2.46 a share, compared with a previous range of $2.38 to $2.48 a share.
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