Adobe Has Its First $1 Billion Quarter, Revenue Up 33%
Software maker Adobe has once again posted record revenue results this quarter, surpassing the $1 billion milestone for the first time. Adobe revenue for the fourth quarter of 2010 was $1.008 billion versus $757.3 million reported for the fourth quarter of 2009 and $990.3 million reported in the third quarter of 2010. This signifies a 33% growth from last year.
The company has also had a banner 2010 as a whole, with record revenue of $3.8 billion compared to $2.946 billion in 2009, 29% year over year growth. Adobe CEO Shantanu Narayen reinforced this,Â â€œWe posted our first billion dollar quarter and record annual revenue in 2010, driven by outstanding performance across all of our major businesses, and we are entering 2011 with strong momentum.”
Adobeâ€™s non-GAAP diluted earnings per share for the fourth quarter were $0.56, versus $0.39 reported in the previous year. Non-GAAP net income was $384 million, versus $265.2 million in theÂ fourth quarter of 2009.Â Adobeâ€™s GAAP diluted earnings per share for the fourth quarter of 2010 were $0.53 versus a loss per share of $0.06 reported in the fourth quarter of 2009. GAAP net income was $286.9 million for the quarter, versus $153.6 million reported in 2009.
Adobe Â has had a year filled with ups and downs as scuffles with Apple over Flash eventually turned into noble attempts at product evolution. Adobe shares are up 5% after hours today as the company beatÂ Wall Street analyst earnings expectations.
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