Adobe earnings meet revised estimates

Adobe this afternoon reported a first quarter net profit of US$49.8 million, down 29 percent from the year-ago quarter, on revenues of $267.9 million, a decline of 19 percent. The earnings were in line with revised expectations. Adobe attributed the “solid” quarter to a 20 percent year-over-year increase in sales of Acrobat, the company’s leading PDF software.

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