Your 30 second guide to the past three months on Planet Adobe: Talk about sitting on cloud 9
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Adobe is crediting a surge in cloud services with helping to drive its best financial Q1 take ever.
The Silicon Valley software giant said that its Creative Cloud and Marketing Cloud services recorded strong growth on the quarter and spurred the company to increase its revenue target for the year.
For the three months [PDF] to March 4:
- Revenues of $1.38bn were up 25 per cent over the Q1 2015 haul of $1.11bn.
- Non-GAAP earnings per share of 66 cents topped analyst estimates of 61 cents.
- Operating income of $307m was an increase of 48 per cent over last year's $173m.
- Digital Media division revenue was $932m, up 33 per cent over the 2015 quarter.
- Marketing Cloud revenue of $377m was a 21 per cent bump over last year's quarter.
"Every day, more brands, government agencies and educational institutions globally are choosing to base their digital strategies on Adobe's content and data platforms," said Adobe president and CEO Shantanu Narayen.
"Our exceptional performance in Q1 is an indicator of the strong momentum we are seeing across our cloud businesses as we drive the experience economy."
Adobe's stock was up 2.03 per cent on the day, trading at $89.96. ®