SAN FRANCISCO -- Adobe Systems(ADBE) beat Wall Street's earnings estimates as profit more than doubled.
The San Jose, Calif., maker of design and publishing software reported revenue of $851.7 million, up 41% above the same quarter of the prior year. Analysts polled by Thomson Financial had expected a top line of $789.3 million. The company's profit grew to $205.2 million, or 34 cents a share, from $94.4 million, or 16 cents a share, a year earlier. Excluding items, EPS was 45 cents, beating analysts' expectations of 40 cents a share. The results were driven by strong adoption of the company's latest edition of Creative Suite and continued momentum in its core Acrobat product, according to CEO Bruce Chizen. Shares of Adobe were recently up $1.71, or 4%, to $44.77 in recent after-hours trading. For the fourth quarter, Adobe said it expects revenue of $860 million to $890 million and EPS, less items, of 46 cents to 48 cents. Analysts were expecting EPS of 44 cents on a top line of $843 million.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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