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Adobe records first billion-dollar quarter

Reporting a 33 percent jump in revenue, company beats Wall Street estimates and offers a bullish forecast for next quarter.

Adobe Systems said today that it recorded its first-ever billion-dollar quarter, beating Wall Street's estimates and forecasting a bullish outlook for its first quarter.

For the fourth quarter, the company reported non-GAAP earnings of 56 cents per share, up from a 6 cents per share loss for the same quarter a year ago. Revenue for the fourth quarter was $1.01 billion, a 33 percent jump over the $757.3 million reported a year ago. (Statement)

Wall Street analysts had been expecting earnings of 52 cents per share on revenue of $988.1 million.

For the fiscal year, the company reported earnings of $1.93 per share, up from $1.54 for the previous year. Revenue for the year was $3.8 billion, a 29 percent increase over last year's $2.946 billion.

Read more of "Adobe records first billion-dollar quarter, bullish on outlook" at ZDNet's Between the Lines.