Adobe rides strong Creative Suite 5 sales
For its second fiscal quarter, the software maker reports revenue of $943 million, up 34 percent year over year and beating Wall Street's expectations.
Adobe Systems, which is betting on a strong upgrade cycle for its Creative Suite, delivered solid second-quarter earnings and an upbeat outlook. The company added that sales of its latest Creative Suite should be strong through 2010 and into 2011 as large customers upgrade.
The company reported fiscal second-quarter earnings of $148.6 million, or 28 cents a share, on revenue of $943 million, up 34 percent from $704.7 million a year ago. Non-GAAP earnings were 44 cents a share. Wall Street was expecting earnings of 42 cents a share on revenue of $905 million.
In a statement, Adobe CEO Shantanu Narayen credited a "successful launch of Creative Suite 5? for the results. Indeed, Adobe's product revenue for the three months ended June 4 checked in at $795.3 million, up from $648 million in the year-ago quarter.
Read more of "Adobe delivers solid quarter; CS 5 sales strong out of gate" at ZDNet's Between the Lines.