Adobe Profit Rise Sharply Amid Demand for Photoshop

Adobe Systems Inc. (ADBE) Monday reported a 62 percent jump in quarterly profit, driven by robust demand for its Photoshop (search) and document-sharing software.

Shares of the San Jose, Calif.-based company, whose results beat analysts' profit and revenue estimates, rose more than 3 percent in after-hours trade.

Quarterly net income rose to $104.5 million, or 42 cents a share, in the fiscal third quarter ended Sept. 3, up from $64.5 million, or 27 cents a share, a year earlier, the company said.

Not including an investment loss, earnings totaled 43 cents a share, the company said.

Revenue rose about 27 percent to $403.7 million from $319.1 million.

Analysts expected quarterly revenue of $391.6 million and earnings of 39 cents a share, excluding special items, according to the consensus estimate of analysts polled by Reuters Estimates.

The company forecast earnings of 38 cents to 41 cents a share in the current fiscal fourth quarter on estimated revenue in a range of $400 million to $415 million. That, compared with analysts' average estimate of profit of 37 cents a share on revenue of about $389.7 million.

Adobe shares rose to $49.48 in after-hours dealings from the Nasdaq (search) close of $47.95.