Adobe Advances as Revenue, Profit Top Analysts’ Estimates
This article is for subscribers only.
Adobe Systems Inc. shares climbed the most in one year after the software company reported fiscal fourth-quarter sales and profit that topped analysts’ estimates as customers embraced its flagship Creative Suite.
Profit excluding some items for the period, which ended in November, was 61 cents a share on sales of $1.15 billion, the San Jose, California-based company said yesterday in a statement. Analysts on average had projected profit of 56 cents a share on revenue of $1.1 billion, according to data compiled by Bloomberg.