Feeds

Adobe shares dip despite Q4 profit surge

Investors crop gains

  • alert
  • submit to reddit

Intelligent flash storage arrays

Shares of Adobe were down 2 per cent during Friday's trading even though the software maker posted better than expected fourth quarter figures one day earlier.

Adobe reported fourth quarter revenue of $430m, which compares to $359m in the same quarter a year ago. This 20 percent growth surpassed Adobe's previous forecasts. Adobe also posted net income of $114m, which is a 36 per cent rise over the $105m posted one year earlier. The company's earnings of 44 cents per share beat out the consensus estimate of 42 cent per share.

Investors, however sent Adobe's shares down $1.15, at the time of this report, to $59.96. This price is well below the 52-week high of $64.48 that Adobe hit earlier in the week.

For the full year, Adobe pulled in $1.67bn in revenue. This was 29 per cent higher than the $1.30bn reported in 2003. Adobe's net income came in at $450m for the year versus $266m last year.

The company's chief executive Bruce Chizen said he expects solid growth in 2005.

"Based on the planned release of a succession of new products throughout fiscal 2005, as well as the large market opportunities in front of us, we are reaffirming our double-digit revenue growth target for fiscal 2005," Chizen said.

He cited particular interest in the Acrobat and Creative Suite software packages as reason for the optimism. ®

Related stories

Adobe patches Acrobat, Reader flaws
Adobe proposes universal digicam 'raw' image format
Adobe beta tests Acrobat Reader 7.0
Adobe beats the Street

Beginner's guide to SSL certificates

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.