Overseas sales boost Adobe pre-tax profits a third

The group attributed the surge in both quarterly pre-tax profits, which rose to $US278m ($AU294m), and revenue, which was up 19 per cent at $US886.9m ($AU938.3m) to its product mix and geographic spread.

Shantanu Narayen, president and chief executive of Adobe Systems, said: “Our strong performance in Q2 was driven by the product mix and geographic diversity of our business.

“We continue to execute against our strategy and are well positioned for solid financial performance in the second half of this year and beyond.”

However, shares in the design and prepress software developer fell 3 per cent yesterday as analysts were disappointed by Adobe’s third-quarter outlook.

Strong revenue growth in Europe and Asia has been counteracted by flat sales in the company’s home market, sparking fears that a further slowdown in the US economy could significantly affect results.

Narayen said: “I’m not an economist. All I can do is reflect on what I have seen so far. Demand for our products remains strong. (But) we are not immune to a recession.”

Read the original article at www.printweek.com.

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