Bullish Adobe’s revenues up 42pc despite Apple snub

22 Sep 2010

Apple CEO Steve Jobs’ best efforts to throw a spanner in Adobe’s works over Flash have so far come to nought as the scrappy design and content software firm reported record revenues of USUS$990.3m for its third quarter, up 42pc on last year.

Adobe’s third-quarter revenue target range was US$950m to US$1bn. Adobe brought home a profit of US$230.1m for the third quarter of fiscal 2010, compared to US$136.0m last year.

“Strong performance in each of our major businesses contributed to record revenue and strong earnings in Q3,” said Shantanu Narayen, president and CEO of Adobe.

“We remain bullish about Adobe’s long-term role in enabling the transformation of content and applications across industries.”

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Adobe’s diluted earnings per share for the third quarter of fiscal 2010 were US$0.44, based on 523.2 million weighted average shares. This compares with diluted earnings per share of US$0.26 reported in the third quarter of fiscal 2009 based on 531.8 million weighted average shares.

Operating income was US$302.0 million in the third quarter of fiscal 2010, compared to US$167.6 million in the third quarter of fiscal 2009 and US$227.3 million in the second quarter of fiscal 2010. Operating income as a percentage of revenue was 24.1pc.

For the fourth quarter of fiscal 2010, Adobe is targeting revenue of US$950 million to US$1 billion.

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