Adobe Q2 profit rises 54% to $229 mn

Software giant Adobe Systems has reported 54% jump in net income to $229.43 million in the three-month period ended June 3, 2011, driven by strong demand for its web analytics products.

In the year-ago period, the company had a net income of $148.61 million, Adobe said in a statement.

The company said its revenue grew to $1.02 billion in the second quarter of 2011 from $943.03 million in the year-ago period, representing a growth of 9%.

Adobe, which makes software such as Photoshop and Illustrator for media and internet professionals, has witnessed results improved in recent quarters, driven by sales of its web-design programs and flagship Creative Suite 5 graphic.

Revenue from product sales rose by 4.4%, while subscription revenue increased by 18% and revenue from services and support climbed by 51%.

"Our strong Q2 performance demonstrates our strategy of enabling users to make, manage and measure great digital experiences is resonating with our customers," Adobe CEO and President Shantanu Narayen said.

Looking ahead, the company expects a revenue between $1 billion and $1.05 billion in the forthcoming quarter.

Adobe said it was targeting about 10% revenue growth in fiscal year 2011.

"Given our execution in Q2 against our large growth opportunities, we are reaffirming our 10% revenue growth objective in fiscal year 2011," Adobe CEO and Executive Vice President Mark Garrett said.