Adobe produced strong second quarter earnings figures on Tuesday, reaffirming its path to achieve at least 10 percent in revenue growth by the end of the 2011 fiscal year.
Adobe reported second quarter earnings of $229.4 million, or 45 cents a share (statement). Non-GAAP earnings were 55 a share on a revenue of $1.023 billion. Wall Street was expecting Adobe to report second quarter earnings of 51 cents a share on revenue of $994.8 million.
Adobe's CEO and president Shantanu Narayen boasted about his company's higher-than-expected earnings stating that "our strong Q2 performance demonstrates our strategy of enabling users to make, manage and measure great digital experiences is resonating with our customers."
By the numbers:
For the outlook, Adobe is predicting a revenue of $1 billion to $1.050 billion at the end of Q3 with non-GAAP earnings between 50 to 56 cents a share.
For the third quarter of fiscal 2011, Wall Street is expecting Adobe to report non-GAAP earnings of 54 cents a share on revenue of $1.02 billion. For fiscal 2012, analysts were projecting Adobe to report earnings of $2.22 a share on revenue of $4.1 billion.