Categories AlphaGraphs, Earnings, Technology
Adobe reports higher Q3 revenue and earnings; results beat estimates
Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in third-quarter 2024 revenue and earnings. The results also topped expectations.
Third-quarter revenues came in at $5.41 billion, which is up 11% from the year-ago quarter. The top line benefited from strong growth in the Digital Media and Digital Experiences businesses.
Adjusted net profit, excluding one-off items, rose to $4.65 per share in Q3 from $4.09 per share last year. Unadjusted net income was $1.68 billion or $3.76 per share in the August quarter, compared to $1.40 billion or $3.05 per share in the third quarter of 2023.
“Adobe’s record Q3 performance is a testament to our relentless innovation and commitment to delivering value to our customers. With groundbreaking advancements in AI across Creative Cloud, Document Cloud, and Experience Cloud, we are empowering millions of users worldwide,” said Adobe’s CEO Shantanu Narayen.
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