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Adobe Systems posts profit beat for 9th quarter in row

Published: 10:23 11 Dec 2015 EST

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Adobe is famous for its publishing software like Photoshop

Adobe Systems (NASDAQ:ADBE) hit a fresh high after the software maker reported a higher-than-expected profit for the ninth consecutive quarter.

Shares touched an all time high of $93.65 before trading at $91.72, up 3.1%, at 10:12 a.m. in New York.

The results were helped by lower restructuring charges and higher digital-media revenue.

Net income surged to $222.7mln, or $0.44 per share, in the three months ended Nov. 27, from $88.1mln, or $0.17 per share, a year earlier, the San Jose, California-based company said in a statement late on Thursday.

Stripping out items, the company earned $0.62 per share, surpassing the average analyst estimate of $0.60, according to Capital IQ.

Fourth-quarter revenue increased 22% to $1.31bn year-over-year.

Looking ahead, Adobe forecast a current-quarter profit of $0.56 to $0.62 per share on sales of $1.3bn to $1.35bn, compared with analysts’ estimates of $0.60 per share in profit on revenue of $1.32bn.

Adobe is famous for its publishing software like Photoshop.

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