Adobe shows improved profit earnings

Adobe shows improved profit earnings

Adobe has reported improved profit earnings with demand of their core software products improving in the market. The company released a new version of their Creative Suite during the quarter, which was a success in the market. They are also seeing improved sales from their Acrobat range of products in spite of announcement of Metro from the competitor Microsoft.

Adobe CEO Bruce Chizen said in a statement: ‘We’re excited about the growth in our business. This is the eighth-consecutive quarter we’ve seen double-digit growth.’ The disappointing thing about this news is that the profits were lower than what the market expected and it resulted in falling of the prices of the Adobe shares in the stock market.

The company saw its share losing 6% of its market value in the after hours trading and this has led to the company issuing a conservative estimate for the next quarter. The company also started the process of acquiring Macromedia this quarter, which is expected to be completed by autumn. With future of macromedia products uncertain, Adobe products are expected to be under more demand in the coming days.

Acquiring Macromedia would give Adobe enough weapons in their arsenal to counter increased competition from Microsoft as they releases products like Metro and Acrylic.