Adobe posts record $3.23 billion sales in Q3 in tough times


San Francisco, Sep 16 (IANS): Riding on its growing Creative and Document Cloud business, Adobe has achieved record quarterly revenue of $3.23 billion in its third quarter of fiscal year 2020, which represents 14 percent year-over-year growth.

The cloud software giant reported profit of $955 million, or $1.97 a share, on Tuesday.

Digital Media segment revenue was $2.34 billion, which represents 19 percent (year-over-year) growth.

Creative revenue grew to $1.96 billion, representing 19 percent year-over-year growth while Document Cloud revenue was $375 million, representing 22 per cent growth.

"Adobe delivered the best Q3 in our history in a challenging macroeconomic environment, demonstrating the global demand for our innovative solutions," said Shantanu Narayen, president and CEO, Adobe.

"We are confident that our leadership in the creative, document and customer experience management categories will drive continued momentum in 2020 and beyond."

Digital Media Annualized Recurring Revenue (ARR) increased $458 million quarter-over-quarter to $9.63 billion exiting the quarter. Creative ARR grew to $8.29 billion, and Document Cloud ARR grew to $1.34 billion.

"The resilience of our recurring business model and a strong book of business is driving sustained long-term growth," said John Murphy, executive vice president and CFO, Adobe.

"Despite challenging macroeconomic conditions, the ongoing remote work and learning-from-home environment provided an opportunity to offset normal Q3 summer seasonality," Murphy added.

  

LEAVE A COMMENT

Title : Adobe posts record $3.23 billion sales in Q3 in tough times


 
 
 
 

 
You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image