(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.
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