Adobe systems Inc (NASDAQ:ADBE) is a multinational computer software company. It is situated in San Jose, California. It is into the businesses of creating multimedia, developing internet applications, creativity software products like Photo shop and Adobe reader. Shantanu Narayen is the President and Chief executive officer.
There was a steep rise in the share value of ‘The Adobe’s Systems Inc after the company announced its fourth quarter results.
The company has earned $222.3 million for the fourth quarter this year as against $173.7 million last year. It has earned 44 cents per share this year as against 35 cents per share last year. Which means it has approximately earned 61 cents per share due to the hike in the share value.
The Market analyst expected its revenue to be some 56 cents per share and the revenue to be approximately $1.10 billion. But it has crossed the market expectation and earned approximately $1.15 billion for the quarter ended Nov 30.
Adobe Inc. earned $1.68 per share this fiscal year as compared to 2011 and its revenue has increased from $4.22 billion to $4.40 billion.
With the help of creative cloud we can get the Adobe software products at fewer prices online through subscriptions instead of downloading or ordering for the physical delivery of the product. Hence Adobe has received 10,000 subscribers is this quarter per week and 8000 subscribers per week during the third quarter.
Based on the above results, Mark Garrett who is the Chief Financial Officer says that 2013 Fiscal year will be the most focusing year, as this will be the most important year for transferring the subscription based services in the market. And he also foresees that this service will be stronger, high yielding revenue service and which can last longer in long term growth.
Stock of Adobe Systems Incorporated (NASDAQ:ADBE) has been rallying from $32.14 to current price of $37.56, Also the stock is overbought on charts and it might see a selloff in near future.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) were up by 5.71% to close at $37.56.
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