Adobe Reports a Robust Second Quarter and Plans Share Buyback

Adobe Systems (ADBE) posted double-digit earnings gains in the second quarter, fueled by strong growth from its launch of Creative Suite 5, the company said Tuesday. The graphics-software maker generated $943 million in revenue for the quarter, a 34% increase over the same time last year. That performance beat Adobe's earlier revenue guidance to Wall Street of $875 million to $925 million. The company's net income climbed to $148.6 million -- up 17.8% from a year ago.

The company expects even greater revenue in the third quarter, to the tune of $950 million to $1 billion. That, in part, explains its decision to modify its share-repurchase program -- Adobe announced it would buy back up to $1.6 billion in common stock through fiscal 2012.

Despite its strong earnings performance and share-buyback program, Adobe's shares were down 2.33% to $32 in pre-market trading Wednesday.
Read Full Story
  • DJI25886.01306.611.20%
    NASDAQ7895.99129.381.67%
  • NIKKEI 22520418.8113.110.06%
    Hang Seng25734.22238.760.94%
    DAX11562.74150.071.31%
  • USD (PER EUR)1.110.00000.00%
    USD (PER CHF)1.020.00000.00%
    JPY (PER USD)106.360.00000.00%
    GBP (PER USD)1.210.00000.00%