Adobe Shares Jump on Higher Profit, Outlook

Tuesday, 18 Mar 2008 | 4:49 PM ET

U.S. software maker Adobe Systems on Tuesday posted a higher quarterly profit and gave a forecast that topped Wall Street expectations, sending shares up more than 7 percent in after-hours trade.

Adobe's headquarters in San Jose, California.
Adobe's headquarters in San Jose, California.

Adobe posted a net profit of $219.4 million, or 39 cents per diluted share, in its fiscal first-quarter ended Feb. 29, up from a profit of $143.9 million, or 24 cents per diluted share, in the year-ago quarter.

Sales rose 37 percent to $890.4 million in the quarter from $649.4 million.

Excluding stock-based compensation and acquisition costs, earnings per share totaled 48 cents per share in the quarter.

Analysts expected a profit of 45 cents per share, on average, in the first quarter, according to Reuters Estimates.

Shares of Adobe climbed more than 7 percent in extended trade after posting its results. In regular trade, the stock gained $1.09 , or 3.5 percent, to $31.88.

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