Adobe Systems has reported a first-quarter revenue of 230m ($329m), against a background of difficult trading conditions and declining investor confidence in the technology sector.


The figure is 17% higher than last year, but 8% down on the previous quarter.


Adobe Systems UK marketing director Ricky Liversidge said: "Were doing well in Europe, which represented 30% of Adobes sales for the quarter."


Earnings exceeded analysts estimates. Net income was up 8% to 48.7m.


However, in light of the uncertain global economic climate it lowered its second-quarter revenue growth target to 15%.


Co-founder John Warnock has retired. He will remain as chairman alongside fellow founder Charles Geschke, who retired last year.