Boston, MA 06/20/2013 (wallstreetpr) – The share prices of Adobe Systems Inc. (NASDAQ:ADBE) had surged by 5.58 percent to close at $45.78 per share for the end of last trading session on Wednesday. The shares of the company had been trading in the range of $45.35 to $46.44 per share during the day, after opening at $46.43 per share. The shares of Adobe Systems Inc. (NASDAQ:ADBE) had recorded 52 week high price level at $47.17 per share and 52 week low price level at $29.52 per share.
In the recently announced second quarter financial results, Adobe Systems Inc. (NASDAQ:ADBE) had reported robust all round performance with its success primarily being attributed by the management to the company’s successful transition into a cloud computing company. The creative cloud subscriptions initiated by Adobe Systems Inc. (NASDAQ:ADBE) had exceeded 700,000 users by this quarter and the company had managed to beat the earnings expectations by booking revenues of $1.01 billion for the quarter.
The well diversified revenue streams held by Adobe Systems Inc. (NASDAQ:ADBE) had been the ground for success of the company all the while. The highest percentage of revenues is generated through the stream of Photoshop and Creative Software at about 51 percent followed by the revenues from Acrobat Family and Omniture at around 18 percent and 12 percent respectively.
The company is taking effective steps to further bolster its revenues through launch of new innovative programs. However the growth in revenues for Adobe Systems Inc. (NASDAQ:ADBE) highly depends on how the company controls content piracy of its products as the global piracy rate is measured around 42 percent in the year 2011.
Adobe Systems Inc. (NASDAQ:ADBE) witnessed the trade of 12.57 million shares on Wednesday, while the average trading volume for the company is at 3.45 million shares per day. The company presently holds 501.94 million shares outstanding in the market with an institutional ownership of 94 percent of its holdings.