The Digital Media business saw its annualized recurring revenue rise to $10.69 billion, up $435 million from the previous quarter. Within that segment, Creative Cloud revenue came to $2.38 billion, up 31%, while Document Cloud added $480 million, up 37%. The company also logged double-digit growth in its three core cloud services, namely Creative, Document and Experience.Īdobe President and Chief Executive Shantanu Narayen (pictured) said the company drove record first-quarter revenue and is raising its full year targets based on what he called a “tremendous opportunity” for its business and its confidence in its ability to execute on that.Īdobe said its Digital Media business unit accounted for the bulk of its revenue during the quarter, with $2.86 billion in sales, up 32% from a year ago.
That came in well ahead of Wall Street’s forecast of $2.78 per share in earnings on $3.76 billion in revenue. The design software company today reported a profit before certain costs such as stock compensation of $3.14 per share on revenue of $3.91 billion, up 26% from the same period a year ago. ended its first quarter in a strong way, posting record sales, easily beating market expectations on earnings and revenue and raising its targets for the full year.
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