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Adobe Profit Up 70% on Acrobat Demand

June 18, 2004|From Reuters

Adobe Systems Inc. on Thursday reported a 70% rise in fiscal second-quarter net income on a 28% gain in revenue driven by firm demand for its Acrobat document-sharing software.

For the fiscal second quarter ended June 4, Adobe posted net income of $109.4 million, or 44 cents a share, on revenue of $410.1 million, compared with a year-earlier profit of $64.2 million, or 27 cents a share, on revenue of $320.1 million.

Analysts had expected San Jose-based Adobe to post earnings per share of 42 cents, within a range of 40 cents to 45 cents, on sales of $404.28 million.

Shares slipped to $43.66 in after-hours trading. They fell 5 cents to $44.61 in regular Nasdaq trading.

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