Adobe, the developer of popular design applications like Flash and Photoshop, brought in a record $1 billion for the first time in its fourth quarter this year, according to its most recent filing with the Securities and Exchange Commission.
Adobe’s revenue was up 33 percent when compared to the $757 million it brought in during its fourth quarter last year. The design software developer brought in a total of $3.8 billion this year, up 29 percent from $2.95 billion last year.
Going off that momentum, Adobe expects to make another $1 billion in the first quarter next year. Adobe turned around from a loss of $32 million in the fourth quarter last year to bring in a net income of $269 million.
Adobe is particularly known for its Flash technology, which runs most video hosting sites today. It’s also increasingly present on mobile devices, despite battery concerns and the very vocal and sometimes comical spat between Apple and Adobe. The company released Flash 10.1 for Google Android users, and it’s working on versions for Palm WebOS, BlackBerry, Windows Phone 7 and others. The whole argument also seems to be dying down now that Apple has approved SkyFire, a browser that runs flash video, for the App store.
The company’s strong performance this year probably puts a final bullet in the head of the Microsoft-Adobe acquisition talks that rose up in earlier this year. The chief executives of software makers Adobe Systems and Microsoft discussed the possibility of Microsoft acquiring Adobe to take on Apple in the mobile-phone market. Adobe chief executive Shantanu Narayen quickly tried to kill that rumor, but that didn’t stop shareholders from driving up the stock in anticipation once it came out.
Adobe’s shares surged nearly 5 percent to $30.59 in extended trading today after the company released its financial results.
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