Adobe paints a brighter picture

Adobe has reported increased profits in its third-quarter results, and has predicted further growth for the rest of the year.

The maker of Photoshop and Acrobat said that net profit for the quarter ended 30 August grew to $47.2m, compared with $40.3m for the same quarter last year.

President and chief executive Bruce Chizen said: "I am encouraged that, despite a challenging economic environment, we are planning for growth in the fourth quarter."

Revenues stood at $284.9m, compared with $292.1m for the same period last year.

Adobe's revised third-quarter revenue target range is between $270m and $290m. Looking ahead, the company has estimated fourth-quarter revenues of $285m to $300m.

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