Adobe Shares Rally As Earnings Beat Wall Street's Expectations
Shares of Adobe Systems Inc. climbed in Thursday's extended session after the software company posted better-than-expected quarterly results. Adobe reported its fiscal fourth-quarter earnings rose to $222.7 million, or 44 cents a share, from $88.1 million, or 17 cents a share, a year earlier. On an adjusted basis, the maker of Photoshop, Illustrator design software and PDF would have 62 cents a share. Revenue grew to $1.31 billion from $1.07 billion. Analysts surveyed by FactSet had forecast earnings of 60 cents a share on revenue of $1.3 billion. Adobe shares gained 4% in after-hours trading.
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