Adobe – the makers of a wide range of industry-standard tools for web, graphic and video development announced today its 3rd Quarter results for 2010.
According to the company’s press release, Adobe achieved record revenue of $990.3 million, compared to $697.5 million reported for the third quarter of fiscal 2009 and $943.0 million reported in the second quarter of fiscal 2010. This represents a 42% year-over-year revenue growth. Adobe’s third quarter revenue target range was $950 million to $1 billion.
“Strong performance in each of our major businesses contributed to record revenue and strong earnings in Q3,” said Shantanu Narayen, president and CEO of Adobe. “We remain bullish about Adobe’s long-term role in enabling the transformation of content and applications across industries.”
Adobe, the powerhorse of the image and video processing software industry is the absolute king of the market. Any developer worth their salt is using one or more Adobe applications for the PC or the mac to produce, create and process digital imagery and motion video.
While the world of art can still utilize analog media such as paint, celluloid or the humble drawing board, the world of creative has turned digital and there is no turning back from this change to the all-Digital Era that we live in.
The massive earnings of Adobe also signify great sales for Creative Suite 5 (CS5) that brought a plethora of updates to a series of established tools. New versions of Photoshop, Illustrator and Dreamweaver, InDesign and Flash, and rewritten Adobe Premiere and After Effects entered the 64bit application market; there is no-one else that gets even close to the Adobe products.
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They also lowered their 4Q’10 Guidance due to expected weakness in future sales and their stock is crumbling.
Don’t look to the past and look into the future.