January 14, 2015 / 10:29 PM / 3 years ago

Adobe plans up to $2 billion share buyback

(Reuters) - Photoshop maker Adobe Systems Inc (ADBE.O) said it would buyback up to $2 billion of its shares through the end of fiscal 2017.

Adobe company logos are seen in this picture illustration taken in Vienna July 9, 2013. Picture taken July 9, 2013. REUTERS/Leonhard Foeger

The company’s shares rose 2.2 percent to $71.50 in extended trading on Wednesday.

Adobe said authority of its previous buyback program of up to $2 billion through fiscal 2015 has been exhausted.

The company reported a 3 percent rise in revenue in the fourth quarter ended Nov. 28, helped by higher subscription sales of its Creative Cloud suite.

Reporting By Kshitiz Goliya; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below