Adobe Posts Profit, Beating Predictions
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Adobe Systems Inc., the world’s largest maker of software for publishing and graphic design, said third-quarter profit rose 37% as sales gained more than the company predicted. The shares climbed.
Net income increased to $64.5 million, or 27 cents a share, from $47.2 million, or 19 cents, a year earlier, Adobe said. Sales in the quarter ended Aug. 29 rose 12% to $319.1 million from $284.9 million.
Profit and revenue this quarter may rise more than analysts expected, San Jose-based Adobe said. The announcement came after the close of regular trading.
Adobe rose to $38.37 in after-hours trading after falling $1.64 to $36.39 on Nasdaq.
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