Adobe Systems Inc's earnings and revenue topped Wall Street forecasts for the seventh straight quarter, led by higher subscriptions for its flagship Creative Cloud suite of software that houses Photoshop.
Adobe's (ADBE.O) shares rose 3.1 per cent to US$225.64 in after-hours trading on Thursday.
Revenue from Adobe's digital media business that includes Creative Cloud rose about 28 percent to US$1.46 billion, beating analysts' average estimate of US$1.43 billion, according to Thomson Reuters I/B/E/S.
In October, Adobe hiked subscription fees for Creative Cloud, its largest business by revenue that also houses popular image- and video-editing software such as Premiere Pro and Illustrator.
Adobe's net income rose to US$583.1 million or US$1.17 per share in the first quarter ended March 2, from US$398.5 million or 80 cents per share, a year earlier. Excluding one-time items, Adobe earned US$1.55 per share, beating analysts' estimates of US$1.44.
Revenue rose nearly 24 per cent to US$2.08 billion, ahead of estimates of US$2.05 billion.
For the second quarter, Adobe expects adjusted earnings of US$1.53 per share and revenue of US$2.15 billion. Analysts were expecting earnings of US$1.51 per share and revenue of US$2.14 billion.
Advertisement