Adobe Systems has reported stronger-than-expected revenues for the fourth quarter, after several events in the past few months suggested a weakened position.
Adobe has had a tough fourth quarter, with its decision to kill Flash software on mobile platforms and the company laying off 750 full-time employees in early November. But despite those challenges, the company did well in its digital media and digital marketing businesses, according to Adobe CEO Shantanu Narayen.
The company posted revenue of $1.152 billion, which is up 14 percent from the same quarter a year ago. Non-GAAP profits amounted to 67 cents a share. Adobe beat the estimates of analysts surveyed by FactSet Research, who predicted Adobe would earn $1.09 billion in revenues, or 60 cents a share.
For the first quarter of 2012, Adobe forecasts earnings of 37 cents to 43 cents a share, on revenue between $1.025 billion to $1.075 billion.
On the positive news, Adobe’s stock on the Nasdaq exchange is trading up about 4 percent over its closing price. At time of writing, the stock sits at $27.69 after closing at $26.46.