Adobe Rises on Q4 Results

Adobe ADBE released its fiscal fourth-quarter earnings results after the closing bell on Thursday. Shares initially fell after the numbers hit the wire, but subsequently bounced back. At last check, the stock had added 6.30 percent to $37.77. The company reported net income of $223.33 million or $0.44 per share, compared to net income of $173.72 million or $0.35 per share, in the year ago period. On an adjusted basis, Adobe's net income was $307.91 million or $0.61 per share, compared to $332.59 million or $0.67 per share, in last year's corresponding period. This easily topped analysts' consensus EPS estimates of $0.57. Revenue in the quarter was $1.153 billion versus $1.152 billion last year. This compared to analysts' consensus revenue estimates of $1.10 billion.