Adobe delivers solid second quarter earnings

Adobe Systems, which is betting on a strong upgrade cycle for its Creative Suite, delivered solid second quarter earnings and an upbeat outlook.

Adobe, 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 US$148.6 million, or US$0.28 a share, on revenue of US$943 million, up 34 percent from US$704.7 million a year ago. Non-GAAP earnings were US$0.44 a share. Wall Street was expecting earnings of US$0.42 a share on revenue of US$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 Jun. 4 checked in at US$795.3 million, up from US$648 million in the year ago quarter.

Read more of "Adobe delivers solid quarter; CS 5 sales strong out of gate" at ZDNet.

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