Adobe released the third-quarter financial report. Company raises fourth quarter guidance to $2.64B from $2.61Bexpected. Beats estimates on EPS and revenue. Here is a quick glimpse of the Adobe financial performance:
- Adobe achieved the revenue of around $3.35 billion against the estimated $3.15 billion.
- Diluted EPS is $2.57 on a non-GAAP basis in contrast to the estimated $2.40, representing 25 percent year-over-year growth.
- The revenue from the Digital Media segment grew to approximately $2.34 billion which represents 18% year-over-year growth.
- The Non-GAAP operational income is recorded $1.40B, which beats the estimated $1.15B year-over-year.
- Subscription revenue grew to $3.0 billion against the estimate of $2.55 billion year-over-year.
- The Digital Experience Subscription segment brought in revenue of $729 million with 7 percent year-over-year growth.
The executive vice president and CFO of Adobe said that the resilience of the recurring business model along with a strong book of business is the main source of driving sustained long-term growth.
ADBE shares up 2.5% in premarket trading.