GO
Loading...

Adobe Shares Jump on Higher Profit, Outlook

Reuters
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.

  Price   Change %Change
ADBE
---
AAPL
---

Contact Software

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.