Adobe Reports 24% Increase in Revenues

Adobe headquarters in downtown San Jose.

Software company Adobe reported record quarterly revenue of $2.20 billion in its second quarter of fiscal year 2018, which represents 24 percent year-over-year revenue growth.

Adobe is the developer of cloud-based software including Acrobat, Photoshop, Illustrator and Premiere Pro.

“Adobe delivers all the capabilities to enable transformative digital experiences, including content creation and management, predictive analytics and commerce,” said Shantanu Narayen, president and CEO, Adobe. “Our record results in Q2 reflect continued execution against this significant opportunity where Adobe is the clear market leader.”

The company reported Digital Media segment revenue was $1.55 billion, with Creative revenue growing to $1.30 billion and Document Cloud achieving record revenue of $243 million, which represents 22 percent year-over-year growth. Net income for the quarter was $663 million.

ÔÇťAdobe delivered record revenue with strong earnings and cash flow, and we expect our momentum to continue in the second half of fiscal 2018,” said John Murphy, executive vice president and CFO, Adobe.

Adobe reported more than $6.3 billion in cash and short-term investments.

Shares in the company have been trading near an all-time high but dropped $6.28 Friday to close at $251.82.