Adobe Systems Inc, the maker of Photoshop and Acrobat software, reported a quarterly revenue drop that was not as steep as Wall Street analysts had feared and its profit came in line with forecasts.
Like many technology companies, Adobe's business fluctuates with the economy. Its revenue has been declining as creative professionals who use its design programs cut back on software purchases.
It reported second-quarter profit, excluding items, for the period ended May 29 of 35 cents, in line with analysts' average forecast, according to Reuters Estimates.
Revenue fell 21 percent to $705 million, beating the average forecast of $695 million.
Net income fell to $126 million, or 24 cents, from $215 million, or 40 cents, a year earlier.
(Reporting by Jim Finkle; Editing by Richard Chang)