Adobe Reports Record Revenues

 

SAN JOSE — Adobe reported financial results for its third quarter fiscal year 2017 ended Sept. 1, 2017. The software company had record quarterly revenue of $1.84 billion, a 26% increase from last year. Subscription revenue made up 85% of total company revenue with $1.54 billion in the quarter.

Net income for the quarter was $419.5 million. Shares in Adobe were down 3% in after-hours trading, down $5.40 at $151.40.

“Adobe delivered another record quarter with stellar year-over-year revenue growth of 26 percent,” said Shantanu Narayen, president and CEO, Adobe. “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.”

“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.

Revenue from the Digital Media segment was $1.27 billion, with Creative revenue growing to $1.06 billion. The Adobe Experience Cloud achieved revenue of $508 million, up 26% from last year.