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Adobe second-quarter earnings jump 41 percent
   posted 6:23 pm Mon June 16, 2008 - SAN FRANCISCO
ABC 7 News - Adobe second-quarter earnings jump 41 percent
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Adobe Systems Inc. reported Monday its profit rose 41 percent in the second quarter because of its strong sales in worldwide markets. For the three months ended May 30, the maker of Photoshop design software and the Acrobat publishing tool reported net income of $214.9 million, or 40 cents per share, compared to $152.5 million, or 25 cents per share, in the same quarter a year ago. Excluding special items, the software maker reported income of $272.7 million, or 50 cents a share, compared to $223.2 million, or 37 cents a share in the same quarter a year ago.

On that same basis, analysts polled by Thomson Financial had predicted, on average, earnings per share of 46 cents on revenue of $880 million.

ABC 7 News myTAKE - What's Your Opinion? Actual revenue beat those expectations at $886.9 million, up 19 percent from $745.6 million a year ago.

"Our strong performance in Q2 was driven by the product mix and geographic diversity of our business," said Shantanu Narayen, Adobe's chief executive officer in a company statement.

The San Jose-Calif.-based company expects third-quarter earnings of 34 cents to 36 cents per share, or 45 cents to 47 cents per share on an adjusted basis.

Adobe expects revenue of $855 million to $885 million in the third quarter.

Shares of Adobe closed the day at $42.85, up less than one percent, before the results were announced. They were down 38 cents, or 0.9 percent, in after-hours trading Monday.

Written By AMANDA FEHD

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