Adobe Beats Earnings... Maybe It Doesn't Need Apple (ADBE, AAPL)

Adobe Systems Incorporated (NASDAQ: ADBE) has just reported earnings for its fiscal fourth quarter, and the company is highlighting that this is the record revenue quarter and its first $1 billion quarter.

Its earnings per share were $0.56 and $1.008 billion in revenues.  As far as revenue growth, that compares to $757.3 million a year ago and $990.3 million one sequential quarter back.  Thomson Reuters had estimates of $0.52 for non-GAAP EPS and $988.07 million for revenues.

For the first quarter of fiscal 2011, Adobe expects$0.54 to $0.59 on a non-GAAP EPS basis and $1.00 to $1.05 billion in revenue. The operating margin is targeted at 28% to 29.5% on a GAAP basis, and 37% to 38% on a non-GAAP basis.

For next quarter consensus, Thomson Reuters has estimates of $0.51 EPS and $992.19 million in revenues.

So much for the impact so far in the war of Flash with Apple Inc. (NASDAQ: AAPL).  Maybe Adobe can live and thrive without Apple.  Adobe shares are trading up 8.5% at $31.25 in the after hours session against a 52-week range of $25.45 to $37.80.

JON C. OGG