Software major Adobe on Friday reported its financial results for the quarter ended September 2. The company reported a record revenue of $4.43 billion, 13 percent growth compared with the corresponding period a year ago.
“Fueled by our groundbreaking technology, track record of creating and leading categories and consistent execution, Adobe delivered another record quarter,” said Shantanu Narayen, Chairman and CEO, Adobe.
The GAAP operating income in the third quarter stood at $1.48 billion, and non-GAAP operating income was reported at $1.96 billion. The company reported its GAAP net income at $1.14 billion, and non-GAAP net income at $1.60 billion. The cash flows from operations stood $1.70 billion for the quarter under review.
The company's Digital Media segment revenue was at $3.23 billion, 13 percent year-over-year growth, and creative revenue grew to $2.63 billion, up 11 percent on a year-on-year basis. The document Cloud revenue was reported at $607 million, representing 23 percent growth on year.
The Net New Digital Media Annualised Recurring Revenue (ARR) was at $449 million in the quarter. Digital Experience segment revenue and and Digital Experience subscription revenue were up 14 percent at $1.12 billion and $981 million, respectively.
The company has set a target of $4.52 billion for the next quarter, with Digital Media ARR at around $550 million of net new ARR. Digital Media segment revenue growth is expected at 10 percent and Digital Experience segment revenue at 13 percent. Digital Experience subscription revenue growth is expected at 13 percent.
