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Adobe finally has reason to celebrate. It isn't that Steve Jobs and company suddenly had a change of heart and decided to support the Flash platform, but in spite of Apple's freeze-out, Adobe just reported its first billion dollar quarter in the history of the company.
Adobe achieved record revenue of $1.008 billion, to be exact, a sizable jump from the $757.3 million the company posted for the fourth quarter of fiscal 2009 and up from the $990.3 million reported in the third quarter of this fiscal year. For those of you doing the math at home, that's a 33 percent year-over-year increase in revenue.
"We posted our first billion dollar quarter and record annual revenue in 2010, driven by outstanding performance across all of our major businesses," said Shantanu Narayen, president and CEO of Adobe. "Adobe is transforming how the world is creating, measuring, and delivering digital experiences. We are one of the most diversified companies in the world and are entering 2011 with strong momentum."
Looking ahead, Adobe said it's targeting revenue of $1 billion to $1.05 billion in the first quarter of fiscal 2011.
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