Adobe Systems share price up in after-hours trading as software company reveals rises in revenues and profits for three-months to 4 March 2016

Hayley Kirton
Follow Hayley
Adobe Systems Experiments With Wind Power
Shares in the software company rose in after-hours trading (Source: Getty)

Share price in Adobe Systems rose in after-hours trading today as the software company revealed that its profits had trebled for its first quarter of its 2016 fiscal year.

The company announced that revenue had risen to $1.38bn (£950m) for the three months ended 4 March 2016, up 25 per cent compared with £1.11bn in 2015, while net income had risen 200 per cent to $254.3m from $84.9m.

Shares in the software company rose 6.2 per cent to $95.55 in after-hours trading.

"Every day, more brands, government agencies and educational institutions globally are choosing to base their digital strategies on Adobe's content and data platforms," said Shantanu Narayen, president and chief executive of Adobe. "Our exceptional performance in quarter one is an indicator of the strong momentum we are seeing across our cloud businesses as we drive the experience economy."

The company also repurchased roughly 1.5m shares during the last three months, allowing shareholders to pocket $133m.

Related articles