Adobe Posts Record Quarterly Revenue, As Profit Soars 77%

Adobe Posts Record Quarterly Revenue, As Profit Soars 77%
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Computer software giant Adobe has reported some very positive financial results for the second quarter of its 2018 fiscal year, which ended on 1 June.

The company’s profit jumped a whopping 77 per cent to US$663.2 million for the quarter, while overall revenue grew to a record US$2.20 billion, representing year-on-year growth of 24 per cent.

Adobe’s digital media segment revenue was up from US$1.21 billion to US$1.55 billion, with Creative revenue growing to a record US$1.30 billion and, and Document Cloud posting record revenue of US$243 million.

Digital experience segment revenue rose to $US586 million, representing 18 per cent year-on-year revenue growth.

Adobe’s executive vice president and chief financial officer, John Murphy said he expects the company to continue this momentum into the second half of its 2018 fiscal year.

The strong results come after Adobe announced last month that it would acquire e-commerce platform Magento for US$1.68 billion.

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