Adobe Exceeds Profit Expectations

By | September 18, 2007

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Adobe Systems, the world’s largest maker of design software, reported quarterly results and targets ahead of Wall Street expectations on strong sales of its updated suite of products.

Net income for the fiscal third quarter ended Aug. 31 rose to $205.2 million, or 34 cents a diluted share, compared with $94.4 million, or 16 cents a diluted share, in the year-earlier quarter. Revenue rose to $852 million, from $602 million a year earlier.

“It was a very solid quarter with very strong Creative Suite adoption,” said Brad Reback, an analyst with CIBC World Markets, referring to the design software. “And a very solid outlook.”

Via Times


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