Adobe reaps Q2 revenue of US$1.124bn

20 Jun 2012

Shantanu Narayen, Adobe Systems Inc president and CEO

The successful launch of Creative Cloud and Creative Suite 6, strong Acrobat revenue and 35pc year-over-year revenue growth in its Digital Marketing Suite business has pushed Adobe Systems Inc’s second-quarter revenue to US$1.124bn.

The figure represents a 10pc year-over-year growth.

The software giant’s president and CEO Shantanu Narayen said the results demonstrate the company’s leadership in the digital media and digital marketing markets.

Adobe’s diluted earnings per share amounted to US$0.45 on a GAAP-basis, and US$0.60 on a non-GAAP basis.

Operating income totalled US$305.1m and net income reached US$223.9m on a GAAP-basis. Operating income hit US$404.4m and net income totalled US$299.6m on a non-GAAP basis.

The company’s deferred revenue increased by US$43.9m quarter-over-quarter to US$592.8m.

Cash flow from operations amounted to US$448.2m.

Mark Garrett, executive vice president and CFO of Adobe, said the initial transition to Creative Cloud exceeded the company’s targets.

“Creative professionals see significant value in the new subscription-based offering,” said Garrett. “Over the long term, this bodes well for our business, as it increases our recurring revenue and enables Adobe to interact more closely with our customers.”

Tina Costanza was a journalist and sub-editor at Silicon Republic