Tuesday, September 20, 2016

Adobe's Record Revenue Driven by Cloud Services

Adobe reported record quarterly revenue of $1.46 billion, representing year-over-year growth of 20 percent.

Digital Media segment revenue was a record $990 million, with Creative revenue growing 39 percent year-over-year to a record $803 million. The company cited strong growth in its Creative Cloud and Document Cloud offerings, as more customers adopt a cloud-based software over traditional desktop software.

“We drove strong revenue and earnings performance in Q3, further distancing ourselves from our competitors,” said Shantanu Narayen, Adobe president and chief executive officer. “Our leadership in cloud-based content and data platforms make us a mission critical partner to the world's biggest brands as they transform how they engage with their customers.”



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