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 ofshould 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.