Adobe Systems has posted record financial results for its latest fourth quarter.
The firm reported revenues of $1.008bn in the quarter – a 33 per cent increase against the same period last year, when it raised some $757.3m.
Adobe had been predicting revenues in the region of $950m to $1bn and put the eventual figure down to its outstanding performance.
The company also reported record revenue of $3.800bn in the full 12 months, compared with $2.946bn in 2009. This amounts to 29 per cent year-on-year revenue growth.
“We posted our first billion dollar quarter and record annual revenue in 2010, driven by outstanding performance across all our major businesses,” said Shantanu Narayen, president and chief executive of Adobe.
“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 entering 2011 with strong momentum.”
2010 was looking like a bad year for the firm. The Apple iPad was launched with no support for Flash, upstart technology HTML5 began to gather attention, there were reports that Flash was a drain on battery life and suggestions that Microsoft could buy Adobe out.
However, profit leapt from $153.6m in Q4 2009 to $286.9m in the last quarter, during which Adobe launched Acrobat X.
The firm is expecting to increase its financial gains into 2011 and has set itself a revenue target in the region of $1bn to $1.05bn, with an operating margin of around 30 per cent.
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