Adobe Systems Inc. (ADBE) Posts Record Revenue
Adobe Systems Inc. reported record fourth-quarter revenue and an increase in profit of 16 percent, thanks in part to strong sales of the newest version of digital document software Acrobat.
The report -- and bullish comments from executives about the current quarter -- sent Adobe stock up $2.21 in after-hours trading. Shares closed Thursday at $40.81, up 51 cents or 1 percent from Wednesday on the Nasdaq Stock Market.
Net income for the three months ended Dec. 1 rose to $181.86 million, or 30 cents a share, from $156.25 million, or 31 cents a share, in the same quarter of last year.
Quarterly sales were a record $682.18 million, up 34 percent from $510.37 million in the fourth quarter last year.
The report -- and bullish comments from executives about the current quarter -- sent Adobe stock up $2.21 in after-hours trading. Shares closed Thursday at $40.81, up 51 cents or 1 percent from Wednesday on the Nasdaq Stock Market.
Net income for the three months ended Dec. 1 rose to $181.86 million, or 30 cents a share, from $156.25 million, or 31 cents a share, in the same quarter of last year.
Quarterly sales were a record $682.18 million, up 34 percent from $510.37 million in the fourth quarter last year.
Labels: ADBE, Adobe Systems Inc.
posted by Stock Administrator @ 8:54 PM
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