Adobe Systems profit, revenue soars in quarter ended Sep 3

NEW YORK: Software-maker Adobe Systems Inc has reported a 69 per cent jump in profit to $ 230 million in the quarter ended September 3 on strong sales.

The company had posted a net profit of USD 136 million for the quarter ended August 28, 2009, Adobe said in a statement.

The company achieved a record revenue of USD 990.3 million in the third quarter ended September 3, as against USD 697.5 million in the quarter ended August 28, 2009. This translated into a growth of 42 per cent.

Earlier, in June, Adobe had forecast a revenue of USD 950 million to USD 1 billion for the quarter ended September 3.

"Strong performance in each of our major businesses contributed to record revenue and strong earnings in the third quarter," Adobe CEO and President Shantanu Narayen said.

Product sales, a major contributor to Adobe's revenue, rose by 30 per cent to USD 829.09 million, while subscription revenue surged over seven-fold to USD 98.63 million during the quarter under review. Revenue from service and support rose by 31 per cent to USD 62.59 million during the same three-month period.

Looking ahead, the company is targetting a revenue in the range of USD 950 million to USD 1 billion in the next quarter.