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Adobe posts higher quarterly income as revenue surges

Application software company Adobe Systems Inc. posted net income of $583.1 million for the first fiscal quarter of 2018 from $398.5 million in the prior-year period, as revenue surged 24% year over year.

Diluted earnings per share for the quarter that ended March 2 stood at $1.17, up from 80 cents in the first fiscal quarter of 2017.

Total revenue came in at $2.08 billion for the quarter, up from $1.68 billion in the earlier-year period, with the Digital Media segment posting revenue of $1.46 billion.

Operating income increased to $702.7 million in the first fiscal quarter, up from $469.0 million in the same period last year.