Adobe Revenue Soars to Record $851.7 Million; Launches New Photoshop Logo
Revenue grew to $851.7 million from $602.2 million this time last year, increasing 41 percent year-over-year. Adobe attributes its record growth to strong performance with Creative Suite 3, which launched in March.
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Sept. 18, 2007 – Software developer Adobe Systems Inc. yesterday announced record revenue in the third quarter, reporting an a
ll-time high of $851.7 million. Revenue grew from $602.2 million this time last year, increasing 41 percent year-over-year. Adobe attributes its record growth to the strong performance of Creative Suite 3, which launched in March.
In the three-month quarter ending Aug. 31, 2007, Adobe reached its all-time high $851.7 million in revenue, surpassing the original target range of $760 to $800 million. Adobe’s operating income more than doubled from $110 to $255 million this quarter, soaring 132 percent year-over-year.
"Our record results were driven by outstanding Creative Suite 3 adoption and continued Acrobat momentum," said Adobe CEO Bruce Chizen in a Sept. 17 press release.
Adobe called Creative Suite 3 the largest launch in the company’s 25-year history. Made up of 13 updated stand-alone multimedia and design applications, the suite includes the latest version of Acrobat 8 Professional software and Photoshop CS3. Adobe yesterday also released a new Photoshop logo with an updated revised slogan: "See What’s Possible."
"As we near the end of fiscal 2007, we remain well positioned for continued double digit revenue growth," Chizen said.
Adobe predicts fourth quarter revenue will draw between $860 million and $890 million. Adobe’s diluted earnings per share were $0.34, up from $0.16 last year.