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Adobe beats estimates with strong profit, sales
Adobe Systems Inc. on Monday posted strong fourth-quarter profit and sales that generally topped analysts' expectations, and reassured Wall Street that the positive trend should continue into 2008.
Still, shares of the design and document software maker slipped nearly 2% in after-hours trading, to $40.15.
San Jose, Calif.-based Adobe said net income for the period ended in November rose to $222.2 million, or 38 cents a share, from $183.2 million, or 30 cents a share, in the same period a year earlier. Meanwhile revenue rose 34% to $911.2 million.
Excluding certain items, Adobe said fourth-quarter earnings were 49 cents a share. Analysts had estimated Adobe would post earnings of 48 cents a share for the quarter, and $887 million in revenue, according to Thomson Financial.