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Adobe reports record revenue in Q3 of $1.46 billion

Staff Writer |
Adobe reported financial results for its third quarter fiscal year 2016 ended September 2, 2016. The company achieved record quarterly revenue of $1.46 billion, representing year-over-year growth of 20 percent.

Diluted earnings per share were $0.54 on a GAAP-basis, and $0.75 on a non-GAAP basis.

Digital Media segment revenue was a record $990 million, with Creative revenue growing 39 percent year-over-year to a record $803 million.

Strong Creative Cloud and Document Cloud adoption drove Digital Media Annualized Recurring Revenue (ARR) to $3.70 billion exiting the quarter, a quarter-over-quarter increase of $285 million.

Adobe Marketing Cloud achieved record revenue of $404 million.

Year-over-year operating income grew 50 percent and net income grew 55 percent on a GAAP-basis; operating income grew 36 percent and net income grew 37 percent on a non-GAAP basis.

Cash flow from operations was a record $518 million, and deferred revenue grew to a record $1.80 billion.

The company repurchased approximately 3.5 million shares during the quarter, returning $344 million of cash to stockholders.

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