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Profitable Adobe sees rosy view
By Peter Svensson |
December 22, 2010, Wednesday
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Print Edition
Print Edition
SOFTWARE maker Adobe Systems Inc has posted earnings for its latest quarter that exceeded analyst expectations, and it has provided a rosy outlook.
Investors lifted the stock up by US$1.66, or 5.7 percent, to US$30.85 in extended trading, after the release of the results on Monday.
The maker of Photoshop, Acrobat and Flash software earned US$269 million, or 53 cents per share, in the fiscal fourth quarter, which ended December 3. A year ago, it lost US$32 million, or 6 cents per share, burdened by tax effects and restructuring costs.
Adjusted earnings were 56 cents per share in the latest quarter, surpassing the average forecast of 52 cents per share among analysts surveyed by Thomson Reuters.
California-based Adobe says revenue jumped 33 percent to US$1.01 billion from US$757 million last year. It was Adobe's first billion-dollar quarter.
Investors lifted the stock up by US$1.66, or 5.7 percent, to US$30.85 in extended trading, after the release of the results on Monday.
The maker of Photoshop, Acrobat and Flash software earned US$269 million, or 53 cents per share, in the fiscal fourth quarter, which ended December 3. A year ago, it lost US$32 million, or 6 cents per share, burdened by tax effects and restructuring costs.
Adjusted earnings were 56 cents per share in the latest quarter, surpassing the average forecast of 52 cents per share among analysts surveyed by Thomson Reuters.
California-based Adobe says revenue jumped 33 percent to US$1.01 billion from US$757 million last year. It was Adobe's first billion-dollar quarter.
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