Adobe Reports A Beat-And-Raise Q1

Adobe Systems (ADBE) Tuesday afternoon checked in with a beat-and-raise quarter for its fiscal first quarter ended February 29.

For the quarter, the company reported revenue of $890.4 million and non-GAAP EPS of 48 cents; the Street had expected $875.8 million and 45 cents.

For FY Q2, the company sees revenue of $855 million to $885 million, with non-GAAP EPS of 45-47 cents; the Street consensus has been $875.8 million and 44 cents.

For the full fiscal year ending November 2008, Adobe sees revenues growing 13%, with GAAP operating margin of 30%, and non-GAAP operating margin of 39%. The company sees non-GAAP EPS of $1.86 to $1.92 a share. The Street had been looking for $1.82.

In after hours trading, Adobe is up $2.05, or 6.4%, to $3.93.