Adobe revenue up 9%
By Asha

Adobe today reported financial results for its second quarter fiscal year 2011 ended June 3, 2011 and it is well on its way to meet its 10 percent revenue growth objective in fiscal year 2011.

The second Quarter Financial highlights are

•Revenue grew 9 percent year-over-year to $1.023 billion. The Company’s targeted revenue range was $970 million to $1.020 billion.
•GAAP diluted earnings per share grew 61 percent year-over-year to $0.45. Non-GAAP diluted earnings per share grew 25 percent year-over-year to $0.55.
•GAAP operating income grew 22 percent year-over-year to $276.7 million. GAAP operating margin was 27.0 percent, compared to 24.1 percent in Q2 fiscal 2010. Non-GAAP operating income grew 13 percent year-over-year to $376.4 million. Non-GAAP operating margin was 36.8 percent, compared to 35.5 percent in Q2 fiscal 2010.
•GAAP net income grew 54 percent year-over-year to $229.4 million. Non-GAAP net income grew 20 percent to $279.9 million.
•Deferred revenue grew to $482.0 million, compared to $443.4 million as of the end of Q1 fiscal 2011.
•Cash flow from operations was $389.3 million.
•Adobe repurchased 13.7 million shares of stock during the quarter.