Adobe reports solid third-quarter earnings

The software company has matched Wall Street expectations in the third quarter of 2010, while its chief executive remains positive on the outlook
Written by Larry Dignan, Contributor

Adobe posted solid earnings for the third quarter of 2010 on Tuesday.

The company reported earnings of $230.1m (£146.8m), or 44 cents a share, on revenue of $990.3m — an increase of 42 percent on 2009. Non-GAAP earnings were 54 cents a share. Wall Street was looking for earnings of 49 cents a share on revenue of $985m.

In a call with analysts, Adobe chief executive Shantanu Narayen was upbeat on the outlook and said the company is "on track to deliver record revenue in fiscal year 2010".

For more on this ZDNet UK-selected story, see Adobe's third quarter solid, but outlook is light on ZDNet.com.

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