Adobe, Inc. (NASDAQ:ADBE) released its third-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter.
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The Details: Adobe reported quarterly earnings of $5.31 per share which beat the analyst estimate of $5.18.
Quarterly revenue came in at $5.99 billion which beat the Street estimate of $5.91 billion and was up from revenue of $5.41 billion from the same period last year.
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Adobe reported the following Q3 segment highlights:
- Digital Media segment revenue was $4.46 billion, which represents 12% year-over-year growth. Digital Media Annualized Recurring Revenue exiting the quarter was $18.59 billion, representing 11.7% year-over-year growth.
- Digital Experience segment revenue was $1.48 billion, representing 9% year-over-year growth. Digital Experience subscription revenue was $1.37 billion, representing 11% year-over-year growth.
- Business Professionals and Consumers Group subscription revenue was $1.65 billion, which represents 15% year-over-year growth.
- Creative and Marketing Professionals Group subscription revenue was $4.12 billion, which represents 11% year-over-year growth.
“Adobe is the leader in the AI creative applications category with AI-influenced ARR surpassing $5 billion and AI-first ARR already exceeding our $250 million year-end target,” said Shantanu Narayen, chair and CEO of Adobe.
“Given our customer strategy, AI product innovation and strong go-to-market execution, we’re pleased to once again raise our FY25 total revenue and EPS targets,” Narayen added.
Outlook: Adobe raised its fiscal 2025 adjusted EPS guidance to between $20.80 and $20.85, versus the $20.65 analyst estimate, and raised its fiscal 2025 revenue outlook to between $23.65 billion and $23.7 billion, versus the $23.57 billion estimate.
ADBE Stock Price: According to data from Benzinga Pro, Adobe stock was up 3.01% at $361.06 in Thursday's extended trading.
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