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Adobe posts record-breaking billion-dollar quarter
By siliconindia
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Thursday, 06 January 2011, 20:26 IST
Bangalore: Adobe Systems recorded its first ever billion-dollar quarter, reporting revenues of $1.008bn for the three months ending 3 December, 2010.
For the fourth quarter, the company reported non-GAAP earnings of 56 cents per share, up from a 6 cents per share loss for the same quarter a year ago. Revenue for the fourth quarter was $1.01 billion, a 33 percent jump over the $757.3 million reported a year ago. The growth was driven by strong sales of the company's core Creative Suite product.
The record results and announcement that its first-quarter sales would exceed analyst estimates pushed shares in the company up 6 percent on the news. The company ended the quarter with 9,117 employees, up from 8,715 at the end of the third quarter, with hiring mostly in sales, marketing and R&D, as well as 179 from the acquisition of Day Software. The company has cash and short-term investments of $2.5 billion.
