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Adobe Reaches Record $1 Billion In Revenue

By: Mike Sachoff

Adobe Systems reported its financial results for the fourth quarter beating analysts expectations and raising its outlook.

Adobe said it reached record revenue of $1.008 billion in the fourth quarter, compared to $757.3 million reported in Q4 of fiscal 2009 and $990.3 million in Q3 of fiscal 2010.

This represents 33 percent year-over-year revenue growth. Adobe's fourth quarter revenue target range was $950 million to $1 billion.

The company also reported record revenue of $3.800 billion in fiscal year 2010, compared to $2.946 billion in fiscal 2009. This represents 29 percent year-over-year revenue growth.

"We posted our first billion dollar quarter and record annual revenue in 2010, driven by outstanding performance across all of our major businesses," said Shantanu Narayen, president and CEO of Adobe.

"Adobe is transforming how the world is creating, measuring and delivering digital experiences. We are one of the most diversified software companies in the world and are entering 2011 with strong momentum."

About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.

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