Adobe sees net profits of US$235mn for fiscal Q1

- Tuesday, March 29, 2011

Adobe sees net profits of US$235mn for fiscal Q1

Adobe reported net profits of US$235mn for fiscal 1Q11, ended March 4, up from US$127mn in the year-prior quarter, according to results released by the company.

The net profits in the quarter, however, were down sequentially as Adobe posted US$269mn in fiscal 4Q10.

Adobe saw record revenues for 1Q11 of US$1.03bn, growing 20% from US$859mn during 1Q10; 4Q10 revenues were US$1.01bn.

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Considering the recent earthquake and tsunami in Japan, Adobe downgraded its revenue expectations by US$50mn, as the Asian country is the company's second largest market from a revenue perspective, according to executive VP and CFO Mark Garrett. For fiscal 2Q11, Adobe is now predicting US$970mn-1.02bn in revenues, also taking into account that March is typically the country's biggest sales month for the year.

Use this link to view the full results.