updated 06:20 pm EDT, Wed July 31, 2002
Adobe today issued an intra-quarter business update for its third-quarter of fiscal 2002. The company lowered its third-quarter revenue target range to $270-290 million from the previously-targeted range of $300-320 million. Additionally, third quarter earnings per share are now targeted at $0.18 to $0.23, down from the original target of $0.24 to $0.27. The software giant cited lower-than-expected revenue in the month of July as the reason for the anticipated shortfall.