Adobe (ADBE) Produces A Solid Quarter

Adobe had an excellent quarter. Adobe’s 2nd quarter net income rose to $148.6 million or 28 cents a share. Last quarter net income came in at $126 million, or 24 cents a share. Revenue increased to $943 million from $704.7 million last quarter.

According to President and CEO Shantanu Narayen, “growth is being fueled by the explosion of digital content across all media and devices." Adobe has forecast earnings of 46 cents to 50 cents per share for the next quarter. Revenue of $950 million to $1 billion is expected.

Adobe is also buying back 1.6 million in stock over the next 2 years. Investors did not react favorably to the good earnings report selling off shares in after market trading.