Cloud News

Adobe’s cloud offerings lead to strong revenue growth – discloses Q3 results

1 Mins read

Adobe, the creative software specialist, released its Q3 results for fiscal year 2017. Adobe has achieved a record high for quarterly revenue with $1.84 billion this time. It represents 26 percent year-over-year revenue growth.

“Adobe delivered another record quarter with stellar year-over-year revenue growth of 26 percent. The imperative to deliver intelligent, intuitive and effective customer experiences is key to the C-suite agenda of digital transformation, and Adobe’s cloud offerings are critical to that business mandate,” said Shantanu Narayen, president and CEO, Adobe.

On a GAAP-basis, Adobe’s diluted earnings per share was $0.84, and operating income saw growth by 48% while the net income grew by 55% YoY.

On non-GAAP basis, it earned $1.10 per share, and operating income grew 43% while net income grew 46% YoY.

Revenue from Adobe’s Digital Media segment that includes its biggest operating segment -Creative Cloud, was $1.27 billion with the growth of $1.06 billion in Creative revenue.

Adobe Experience Cloud saw growth by 26% and achieved revenue of $508 million.

Adobe had repurchased nearly 2.1 million shares during Q3, and returned $298 million cash to the stockholders.

Adobe has seen a continuous improvement across its two major operating segments – Marketing Cloud and Creative Cloud, while its traditional business has been struggling to show growth as the cloud shift continues.

“Our results in Q3 once again reflect the leverage of our financial model, with record revenue driven by our cloud-based subscription offerings, strong earnings and cash flow from operations,” said Mark Garrett, executive vice president and CFO, Adobe.

Also read: Microsoft and Adobe expanded collaboration to better workforce productivity and business efficiency

Adobe has been continuously improving its product line with the introduction of new products at lower prices. Hence, this revenue growth and that in subscribers should continue in the long run.

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

7 × 1 =