Adobe shares gain on better-than-expected earnings

Shares of Adobe Systems Inc. climbed in Thursday’s extended trade after the software company reported stronger-than-expected quarterly results. Adobe said its fiscal third-quarter earnings rose to $174.5 million, or 34 cents a share, from $44.7 million, or 9 cents a share, a year earlier. Excluding items, the maker of Photoshop, Illustrator design software and PDF would have earned 54 cents a share, ahead of the 50 cents a share forecast by analysts in a FactSet survey. Revenue grew to 21% $1.22 billion. Adobe gained 1.5% to $81.31 a share in after-hours session.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply