Adobe records first billion-dollar quarter

Company forecasts bullish outlook for next quarter after beating Wall Street estimates with a 33 percent jump in revenue.
Written by Sam Diaz, Inactive

Adobe Systems said Tuesday that it recorded its first ever billion-dollar quarter, beating Wall Street's estimates and forecasting a bullish outlook for its first quarter.

For the fourth quarter, the company reported non-GAAP earnings of 56 US cents per share, up from a 6 US cents per share loss for the same quarter a year ago. Revenue for the fourth quarter was US$1.01 billion, a 33 percent jump over the US$757.3 million reported a year ago. (Statement)

Wall Street analysts has been expecting earnings of 52 US cents per share on revenue of US$988.1 million.

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