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Adobe sees hiring trips after hitting revenue record



Adobe Inc. shares rose 3% in after-hours trading on Tuesday after the software company reported record third-quarter results that bested Wall Street estimates.

5 THINGS TO KNOW ABOUT ADOBE

On Tuesday, CEO Shantanu Narayen said in a statement that company officials expect the momentum to continue for the rest of the year “and beyond.”

; As a result of the success, the computer software giant said it would increase employment in the fourth quarter of this year.

Ticker Security Last Change Change %
ADBE ADOBE INC. 497.67 +11.76 + 2.42%

Adobe reported a net income of $ 955 million or adjusted earnings of $ 2.57 per share. Shares compared to a net income of $ 793 million or $ 1.63 a share in the quarter last year. Revenue rose 14% to a record $ 3.23 billion from $ 2.8 billion a year ago. The guidance for the fourth quarter was also above estimates.

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Analysts surveyed by FactSet had expected adjusted earnings of $ 2.41 per share. Share at a turnover of $ 3.16 billion. Adobe shares have risen 51% this year as it continues to feel the effects of the pandemic. The broader S&P 500 index has improved by 5.3% by 2020.

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