Update 2: Adobe Beats 3Q Estimates; Shares Jump
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Shares of Adobe Systems Inc. shot up 4 percent in the extended session after the software company reported better-than-expected third-quarter profit and predicted similar results for the fourth quarter.
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Record breaking Q3, says analyst Graphics chip makers had a particularly successful third quarter, it emerged today, with shipments up on Q2 by a whopping 20.2 per cent - the highest quarter-on-quarter increase since 2002's 18.6 per cent, by a good margin.â¦
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Sales up, but not enough for Wall St 3Com fell short of Wall Streetâs expectations when it unveiled its third quarter results yesterday.â¦
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CHICAGO/BOSTON  - Investors flocked to upside calls in software maker Adobe Systems Inc  on Tuesday, betting on a turnaround in the underlying stock on anticipated product news, a positive earnings surprise or a possible sale of the company.
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Earnings at Adobe Systems Inc. increased 36 percent in the latest quarter as the company posted record revenue on strong sales of its graphics and imaging software.
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Software maker Adobe reported a strong financial finish to its 2007 fiscal year with revenue up 23 percent for the year and 34 percent for the fourth quarter on sales of its CS3 (Creative Suite 3) and Acrobat software, the company said Monday.For its fourth quarter ended Nov. 30, Adobe reported record revenue for a three-month period of $911.2 million, compared with $682.2 million for the same time period last year. Revenue beat estimates from analysts polled by Thomson First Call, who were expecting the company to bring in $837 million in the quarter.For the fiscal year ended at the same time, Adobe reported revenue of $3.16 billion, also a record for the company, compared with $2.58 billion last year. Adobe&#39;s net income for the quarter was $222.2 million, a 21 percent increase over the $183.2 million reported in the fourth quarter of fiscal 2006. For the year, net income was up 43 percent at $723.8 million, compared with $505.8 million in fiscal 2006.Diluted EPS (earnings per share) for the fourth quarter of fiscal 2007 were $0.38, slightly above the company&#39;s own range of $0.35 to $0.37, and a 27 percent increase over diluted EPS of $0.30 for the same period last year. Diluted EPS for the year was $1.21, a 46 percent increase over EPS of $0.83 in 2006.A strong end to fiscal 2007 is fitting for what turned out to be a banner year for the publishing and design software vendor. The company released CS3, a combination of its own graphics creation products and Web design and multimedia tools that&#160;it acquired from Macromedia. It is the first real blend of the two companies&#39; complementary technologies in one suite.CS3 so far has been well-received by the creative Web and production design community that has been loyal to both Adobe and the former Macromedia for years, making Adobe the leader among those customers. However, this position also inspired more competition in 2007, most notably from software giant Microsoft, which came out with its Expression suite to rival CS3, as well as new cross-browser software called Silverlight to compete with Adobe&#39;s ubiquitous Flash multimedia technology.2007 also saw&#160;longtime Adobe CEO Bruce Chizen step down at the end of the fiscal year. He made the move as part of a planned transition and so he could pursue other career endeavors. Shantanu Narayen, former president and COO, is now chairman and CEO of the company.Adobe also provided on Monday estimates for its first quarter of fiscal 2008, which ends in February. The company expects revenue between $855 million and $885 million and EPS between $0.34 and $0.36 for the quarter. For fiscal 2008, the company reiterated its target annual revenue growth rate of about 13 percent, which it previously announced.
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The printer maker also predicted better-than-expected first quarter earnings, sending shares up.
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By RACHEL KONRAD  SAN FRANCISCO - After reporting solid third-quarter earnings Thursday, Adobe Systems Inc. hopes to crush Wall Street's long-standing concerns that the company can't perform consistently and across all divisions.
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US software firm Adobe sees fourth-quarter profit jump 21% on the back of strong sales.
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Eastman Kodak Co., boosted by the sale of a remote sensing business and gains in digital photography, recorded a sharply higher profit in the third quarter and beat Wall Street forecasts by a wide margin.
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Adobe Systems Inc. ADBE.O on Monday  reported a sharp rise in quarterly profit, driven by robust  demand for its Photoshop and document-sharing software.
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Adobe Systems Inc. (ADBE.O: Quote, Profile, Research) on Monday reported a 62 percent jump in quarterly profit, driven by robust demand for its Photoshop and document-sharing software.
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The software company's stock rises on improved second-quarter numbers.
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Plus: Adobe strong despite drop...Linux demand lifts Red Hat profit...Strong sales of phones, other gadgets boost PalmOne profit.
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Investors flocked to upside  calls in software maker Adobe Systems Inc  on Tuesday,  betting on a turnaround in the underlying stock on anticipated  product news, a positive earnings surprise or a possible sale  of the company.
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Adobe Systems Inc.  on Monday reported a sharp rise in quarterly profit, driven by robust demand for its Photoshop and document-sharing software.
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The Nikkei average rose 1.09 percent on   Monday to its highest level in more than three months on gains   in exporters such as Canon Inc. 7751.T after U.S. stocks rose   on a report showing U.S. job growth was slightly stronger than   expected.