Adobe (http://www.adobe.com) has reported strong financial results for its third quarter fiscal year 2010 that ended Sept. 3.
In the third quarter of fiscal 2010, Adobe achieved record revenue of US$990.3 million, compared to $697.5 million reported for the third quarter of fiscal 2009 and $943.0 million reported in the second quarter of fiscal 2010. This represents 42% year-over-year revenue growth. Adobe’s third quarter revenue target range was $950 million to $1 billion.
Adobe’s GAAP [Generally Accepted Accounting Principles] diluted earnings per share for the third quarter of fiscal 2010 were $0.44, based on 523.2 million weighted average shares. This compares with GAAP diluted earnings per share of $0.26 reported in the third quarter of fiscal 2009 based on 531.8 million weighted average shares, and GAAP diluted earnings per share of $0.28 reported in the second quarter of fiscal 2010 based on 533.3 million weighted average shares.
GAAP operating income was $302.0 million in the third quarter of fiscal 2010, compared to $167.6 million in the third quarter of fiscal 2009 and $227.3 million in the second quarter of fiscal 2010. As a percent of revenue, GAAP operating income in the third quarter of fiscal 2010 was 30.5 percent, compared to 24.0 percent in the third quarter of fiscal 2009 and 24.1 percent in the second quarter of fiscal 2010.
GAAP net income was $230.1 million for the third quarter of fiscal 2010, compared to $136.0 million reported in the third quarter of fiscal 2009 and $148.6 million in the second quarter of fiscal 2010.