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.
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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.
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“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.
–IANS
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