Adobe Systems Profit Buoyed by Subscriptions
December 15 2016 - 5:43PM
Dow Jones News
By Ezequiel Minaya
Adobe Systems Inc. reported better-than-expected quarterly
results, boosted by a 39% jump in subscription revenue.
The California company, known for its flash player used to view
web content and for its publishing software Photoshop, has
benefited from growing demand for digital media. Over the past 12
months, shares in Adobe have gained 12%. The company's stock barely
moved after hours, edging up 0.1% to $105.20.
For the latest quarter, Adobe posted earnings of $399.6 million,
up from $222.7 million a year earlier. On a per-share basis,
earnings rose to 80 cents from 44 cents.
Excluding certain items, earnings per share rose to 90 cents
from 62 cents. Analysts had predicted 86 cents in adjusted earnings
per share, while the company forecast a range between 83 cents and
89 cents.
Revenue rose 23% to $1.61 billion. Analysts had expected $1.59
billion while the company had predicted sales between $1.55 billion
and $1.60 billion.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
December 15, 2016 17:28 ET (22:28 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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