Adobe reports record revenue in Q3
Prints money with Creative Suite 3
Creative Suite 3 has been putting bread on Adobe Systems' table this quarter.
During its fiscal third quarter ended 31 August, the company reported a record revenue of $851.7m, compared to $602.2m in Q3 2007. GAAP net income rose to $205.2m, compared with $94.4m in the same quarter last year. GAAP operating income was $225m in Q3 2007, compared to $110m year-over-year and $180.4m in Q2 2007.
CEO Bruce Chizen said the bountiful results were driven by "outstanding Creative Suite 3 adoption and continued Acrobat momentum". Chizen added the company is well positioned for continued double-digit revenue growth as they near the end of fiscal 2007.
Adobe's software brought in $813.4m of its revenue, or about 96 per cent of the haul. Services and support took in the remaining $38.4m. The company did not offer a breakdown of its software sales.
Adobe projects fiscal fourth quarter revenue between $860m to $890m. Wall Street was expecting a forecast averaging at $843.6m ®