The maker of Photoshop, Illustrator and Flash software said on Tuesday it had net profit of $219.4 million, or 39 cents per share, in its fiscal first quarter ended February 29, up from a profit of $143.9 million, or 24 cents per diluted share, a year earlier.
BOSTON (Reuters) - Adobe Systems Inc <ADBE.O> reported quarterly results that beat Wall Street expectations, citing strong sales of Acrobat document creation software and Creative Suite design programs, and its shares rose 5 percent.
The maker of Photoshop, Illustrator and Flash software said on Tuesday it had net profit of $219.4 million, or 39 cents per share, in its fiscal first quarter ended February 29, up from a profit of $143.9 million, or 24 cents per diluted share, a year earlier.
Sales rose 37 percent from a year earlier to $890.4 million. In the year-earlier period, analysts had said, some customers held off on buying some of Adobe's products ahead of the launch of Creative Suite 3 in the following quarter.
The company said it had first-quarter profit excluding items of 48 cents, above the 45 cent average forecast from Reuters Estimates.
!ADVERTISEMENT!The company reaffirmed its previous forecast that revenue will grow 13 percent this year and that it will post a non-GAAP operating margin of about 39 percent.
It said it expects to post second-quarter profit per share excluding items of 45 cents to 47 cents.
Shares of Adobe climbed 5 percent to $33.50 in after-hours trade. The stock had gained 3.5 percent to $31.88 in the regular Nasdaq session.
(Reporting by Jim Finkle and Duncan Martell; Editing by Leslie Gevirtz, Gary Hill)
