Stock Watch: Strong Q3 Powers Adobe

Adobe Systems Inc. (Nasdaq: ADBE) was up 4 53/64 at 130 13/64 early Friday after the software maker reported strong third quarter earnings and declared a two-for-one stock split.

Revenue rose to $328.9 million from $260.9 million in the third quarter last year, and income before non-operating items advanced to $78.3 million, or 61 cents per fully diluted share, from $57.2 million, or 52 cents.

“The Web is creating explosive demand for content, and our Q3 results showed that Adobe is in an exceptionally strong position to capitalize on this trend,” said Chairman and Chief Executive Officer John Warnock.

Warnock said the company expects revenue growth of 25 percent or more in the next fiscal year.

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