Adobe announced better-then-expected third-quarter results yesterday.
The company reported a net income of $78.3 million, or 61 cents per diluted share, up from $57.2 million (44 cents per share) in the same period last year. Analysts had expected Adobe to yield a return of 52 cents per share. Third-quarter gross revenues were $328.9 million, a 26 per cent rise on the same quarter last year.
Future growth The company hopes to achieve 25 per cent growth in the next quarter compared to the same quarter last year.
John Warnock, Adobe’s CEO, said: "The Web is creating explosive demand for content. Our third quarter results show that Adobe is in an exceptionally strong position to capitalize on this trend."
Adobe’s president, Bruce Chizen (pictured), also revealed that the companies Web publishing products - Adobe Illustrator and Adobe Acrobat - saw strong sales in the period, driving revenues. It emerged that Photoshop 6 has generated stronger demand than previous versions of the application.
Confident Chizen told Reuters: "We think we are in the strongest position ever, and believe no competitor can deliver as complete a set of integrated solutions for Web publishing."
Adobe’s shares climbed 4 per cent, to close at $130, on the after-hours market.
Adobe is re-broadcasting its announcements in its Investor Relations area.