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September 18, 2008updated 06 Sep 2016 3:04pm

Adobe Q3 boosted by strong Acrobat sales

Design and desktop publishing software provider Adobe Systems has reported a decline of 7% in net income to $191.6m for the third quarter 2008, on revenue up 4% at $887.3m.

By CBR Staff Writer

The decline in profit was attributed to a 10% increase in operating expenses, while the revenue growth was attributed to strong Acrobat and LiveCycle sales.

Operating income during the quarter declined 14% to $219.46m from the year-ago quarter, while diluted EPS grew 3% to $0.35. The company said product revenue grew 3% to $838.8m, while services and support revenue increased 26% to $48.44m.

Shantanu Narayen, president and chief executive at Adobe, said: Our strong performance in Q3 was driven by record revenue for our Acrobat and LiveCycle products, as well as the overall diversity of our business. We continue to execute exceptionally well against our strategy, and we look forward to the launch of our flagship Creative Suite 4 product family next week.

For the fourth quarter, it expects revenue between $925m and $955m and diluted EPS between $0.39 and $0.41.

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