Adobe Shares Gain As Third-quarter Results Beat Analysts' Estimates

By Markets MarketWatch Pulse

Shares of Adobe Systems Inc. climbed in Tuesday's extended session after the software company posted stronger-than-expected quarterly results. Adobe reported third-quarter earnings rose to $270.8 million, or 54 cents a share, from $174.5 million, or 35 cents a share, a year earlier. On an adjusted basis, the maker of Photoshop, Illustrator design software and PDFs would have earned 75 cents a share. Revenue grew to $1.46 billion from $1.22 billion. Analysts surveyed by FactSet had forecast earnings of 72 cents a share on revenue of $1.45 billion. Adobe shares advanced 4% after hours.

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