iZone International: Adobe reports record profits, marks first billion-dollar quarter ever
Software giant Adobe has generated record profits measuring out its first ever billion-dollar quarter, with a record profit of $268 million, according to release distribution network Business Wire.
Business Wire, also serves as a financial information disclosure system to help companies fulfill legal disclosure requirements, and as part of this, has released Adobe’s data that reveals a record year for the company. Business Wire quoted Adobe President and CEO Shantanu Narayen as saying, “Adobe is transforming how the world is creating, measuring and delivering digital experiences. We are one of the most diversified software companies in the world and are entering 2011 with strong momentum.”
Coming in the wake of a lot of controversy about Adobe Flash and the upcoming threat of HTML 5, the company might have suffered when Apple CEO Steve Jobs said he was not going to put Flash on any iOS device for reasons of security, stability and performance, Adobe would certainly have bounced back as more and more phones (and tablets) are being built around Android, which supports Flash, and the upcoming Blackberry Playbook is built around an Adobe developed platform.
The big earner though for the company likely is the CS line of products, particularly Photoshop, which remains a standard design tool around the world. The breakdown of the earnings by category, however, was not revealed.
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