Adobe revenues rocket, despite Apple omission from iPad

23 Jun 2010

Silicon Valley graphics software giant Adobe reported record Q2 revenues of US$943m, up 34pc on last year, despite Apple omitting its technology from the iPhone and iPad. The company is to repurchase US$1.6bn worth of stock.

Adobe’s second quarter revenue target range was $875 to $925 million.

“Record revenue and our strong Q2 financial performance were driven by the successful launch of Creative Suite 5,” said Shantanu Narayen, president and CEO of Adobe.

“Our growth is being fueled by the explosion of digital content across all media and devices.”

The news comes hot on the heels of today’s release of Adobe Flash Player 10.1 for Android 2.2 ‘Froyo’ devices, which will enable rival manufacturers to compete with Apple on the smartphone and tablet device front.

The company reported a net profit of US$148.6m, up from US$126.1m last year.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years