Adobe plans up to $2 billion share buyback

Photoshop maker Adobe Systems said it would buyback up to $2 billion of its shares through the end of fiscal 2017.

The company's shares rose 2.2% 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% rise in revenue in the fourth quarter ended November 28, helped by higher subscription sales of its Creative Cloud suite.

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