Adobe reports billion-dollar quarter

The company's fourth-quarter results for 2010 beat analysts' expectations, as it reported revenue of just over $1bn
Written by Sam Diaz, Inactive

Adobe Systems said on Monday that it had recorded its first ever billion-dollar quarter, beating Wall Street estimates.

For the fourth quarter, the company reported revenue of $1.01bn (£650m), a 33 percent jump over the $757.3m it made a year ago. Non-GAAP earnings were 56 cents per share, up from a 6 cents-per-share loss for the same quarter a year ago.

Wall Street analysts has been expecting earnings of 52 cents per share on revenue of $988.1m. For the fiscal year, the company reported earnings of $1.93 per share, up from $1.54 for the previous year. Revenue for the year was $3.8bn, a 29 percent increase over last year's $2.946bn.

For more on this ZDNet UK-selected story, see Adobe records first billion-dollar quarter, bullish on outlook on ZDNet.com.

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