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Adobe Shares Jump on Higher Profit, Outlook
Topics:Stock Market | Technology | Information Technology
Sectors:Software and Computer Services | Software | Technology
Companies:Adobe Systems Inc | Apple Inc
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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.
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Adobe's headquarters in San Jose, California. |
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 [ADBE
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], or 3.5 percent, to $31.88.
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TOPIC : Information Technology
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