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Adobe Systems shares rise, trading at all-time highs after earnings

People exit the Adobe Systems office in San Francisco, California.
David Paul Morris | Bloomberg | Getty Images
People exit the Adobe Systems office in San Francisco, California.

Shares of Adobe Systems surged 7 percent Wednesday after it beat on earnings and reported a 20 percent rise in quarterly revenue for the 10th straight quarter.

The multinational computer software company reported fiscal third-quarter earnings of 75 cents a share on revenue of $1.46 billion. Analysts had expected earnings of 72 cents per share on revenue of $1.45 billion, according to Thomson Reuters consensus estimates.

Adobe's stock was trading at all-time high levels Wednesday.

"Our leadership in cloud-based content and data platforms make us a mission critical partner to the world's biggest brands as they transform how they engage with their customers," Shantanu Narayen, president and CEO of Adobe Systems, said in a press release.

The company's Creative Cloud package of software tools added more subscribers, which drove revenue. Its digital media segment revenue increased 29 percent year-over-year.

Adobe's stock is up more than 14 percent year-to-date.

ADBE 2016 Chart


— Reuters contributed to this report.