
Adobe sales lower than expected
Revenues decline as Japanese demand down
Adobe said Wednesday that falling Japanese demands meant its September to November sales would be lower than expected, but that it had net analyst estimates for its third quarter earnings.
The firm said it had met revised earnings expectations for the three months to the end of August, with profits of £27.5m ($40.3m) on sales of £199.4m ($292.1m). For the same period last year, the firm made a profit of £53.5m ($78.3m) on sales of £224.5m ($328.9m) for the same period a year ago. Revenues for March-May 2001 were £234.9m ($344.1m).
Adobe has been hit by the dotcom collapse and a decline in the advertising and marketing industries, all heavy users of its print and online design products.
However, revenue from the company's Adobe Acrobat products grew 45 per cent year-on-year.
Bruce R. Chizen, chief executive at Adobe said: "While I am disappointed that we fell short of our original revenue target, it is clear that our strategy of investing in Adobe Acrobat products is paying off."
"Assuming continued weak economic conditions in each of our major markets, we are targeting our Q4 fiscal 2001 revenue at [£212m-£218m] $310m-$320m. This has changed from our previous target primarily due to the recent significant weakness in Japan."The firm previously estimated revenues for the three months to November at £232m-£239m ($340m-$350m).
V3 Latest
First plant to grow on the Moon, err, dies
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite news and updates: Fortnite made $2.4bn in 2018, according to SuperData
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Japanese firm sends micro-satellites into space to deliver artificial meteor showers on demand
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago