Despite the drop in revenue, Shantanu Narayen, Chairman and CEO of Adobe said, “We are pleased with the strong revenue and profit margin results we achieved in the second quarter of 2009. We continue to invest in our business initiatives. keys that will drive long-term revenue growth once the economy improves. “
Investors disgusted by falling margins
According to Reuters, the drop in gross margin, from 39.4 to 33.7 percent, has angered investors, sending Adobe shares down 2 percent. In the same way, the analysts cited and the Reuters information point out that the economic situation has caused many creatives to postpone the renewal of their programs, which has meant lower sales of the Creative Suite 4 package. It should be taken into account that sales of creative applications account for 60 percent of Adobe’s revenue.
At the end of 2008, Adobe began to feel the crisis and, although in the last quarter of 2008 its revenues were 915 million dollars (300 million more than those obtained in the second quarter just closed), it made the decision to take carry out a restructuring and cut 600 jobs globally.
The profit declared by Adobe, of 35 cents per share, has been, however, in line with the forecasts, although they are compared with the 50 cents obtained in the same quarter of last year. In terms of targets for the third quarter of fiscal 2009, Adobe has announced a revenue forecast of $ 665 to $ 715 million, with an operating margin of 31 to 35 percent. Web: www.adobe.com.
