Adobe Systems Inc. (ADBE) Profit Doubles
Adobe Systems Inc. reported Monday that its third-quarter profit more than doubled from last year, setting a record revenue and easily exceeding Wall Street's expectations as the software company comes off its biggest-ever product launch.
Net income for the three months ending August 31 was $205.2 million, or 34 cents a share, surging 117 percent from $94.4 million, or 16 cents a share, in the same quarter of last year.
Third-quarter sales were a record $851.7 million, up 41 percent from $602.2 million in the third quarter of 2006.
Excluding costs for expenses, such as stock-based compensation and restructuring charges related to the December 2005 acquisition of Macromedia Inc., profit was $269.4 million, or 45 cents per share, compared with $171.5 million, or 29 cents per share, in the year-ago quarter.
Analysts were expecting Adobe to earn $246.6 million, or 40 cents per share, on revenue of $789.3 million, according to a Thomson Financial survey.
Net income for the three months ending August 31 was $205.2 million, or 34 cents a share, surging 117 percent from $94.4 million, or 16 cents a share, in the same quarter of last year.
Third-quarter sales were a record $851.7 million, up 41 percent from $602.2 million in the third quarter of 2006.
Excluding costs for expenses, such as stock-based compensation and restructuring charges related to the December 2005 acquisition of Macromedia Inc., profit was $269.4 million, or 45 cents per share, compared with $171.5 million, or 29 cents per share, in the year-ago quarter.
Analysts were expecting Adobe to earn $246.6 million, or 40 cents per share, on revenue of $789.3 million, according to a Thomson Financial survey.
Labels: ADBE, Adobe Systems Inc.
posted by Stock Administrator @ 4:58 PM
0 Comments:
Post a Comment
<< Home