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Adobe Q2 profit rose to $374.4 million

Staff Writer |
Adobe reported an increase in profit for the second quarter, as revenues rose reflecting strong cloud revenue growth.

Adobe second-quarter profit rose to $374.4 million or $0.75 per share from $244.1 million or $0.48 per share last year.

Adjusted earnings for the quarter rose to $1.02 per share from $0.71 per share last year.

Adobe said its revenue for the quarter rose to $1.77 billion from $1.40 billion last year. Analysts had a consensus revenue estimate of $1.73 billion for the quarter.

Digital Media segment revenue rose to $1.21 billion, with Creative revenue growing to a record 1.01 billion.

Adobe Experience Cloud achieved record revenue of $495 million for the quarter, a 29 percent growth from last year.

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