Adobe Reports Record Revenue
Adobe Systems Inc. announced yesterday that the software maker achieved record revenue of $745.6 million in the second quarter, beating out initial estimates.
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June 15, 2007* - Adobe Systems Inc. yesterday announced it achieved record revenue of $745.6 million in the second quarter, beating out initial estimates. Adobe’s revenue is driven by what the company calls "record performance" of the recently shipped Creative Suite 3 product line, including Photoshop CS3.
The March launch of Creative Suite 3 was the largest in company history with a total of 13 updated stand-alone applications and six product bundles of photo editing and design programs.
Adobe’s second quarter revenue of $745.6 million rose from $635.5 million this time last year, representing 17 percent growth year-over-year, according to a company press release. Adobe's target revenue for the second quarter was $700 to $740 million.
"Keep in mind, we have only been shipping Creative Suite for six weeks," said Chief Executive Bruce Chizen in a Reuters report. "We are ecstatic…We do expect to exceed the full year forecast," he added.
In the third quarter, Adobe is aiming for a revenue of $760 to $800 million.