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September 23, 2010

Adobe Q3 revenues up 42% to $990m

Targets revenue of $950m to $1bn in fourth quarter

By CBR Staff Writer

Design and desktop publishing software provider Adobe Systems has reported revenue of $990.32m in the third quarter of fiscal 2010, an increase of 42% compared to $697.5m in the same period last year.

The company posted an operating income of $302.01m, compared to $167.6m in the same period last year.

As a percent of revenue, operating income was 30.5%, compared to 24% in the same period last year.

For the third quarter ended 3 September 2010, the company reported a net income of $230.1m, compared to net income of $136m in the same period last year.

Adobe president and CEO Shantanu Narayen said that the strong performance in each of their major businesses contributed to record revenue and strong earnings in Q3.

"We remain bullish about Adobe’s long-term role in enabling the transformation of content and applications across industries," Narayen said.

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Looking ahead, the company is targeting revenue of $950m to $1bn and operating margin to be 27% to 30% in the fourth quarter of fiscal 2010.

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