Home > Industry > Adobe Profit Up After OZ Price Rises

Adobe Profit Up After OZ Price Rises

Adobe Profit Up After OZ Price Rises

Adobe Systems has reported a better-than-expected quarterly profit as more customers subscribed to its Creative Cloud monthly package of publishing tools. Revenue in Adobe’s digital media business, its largest by revenue, rose to US$1.21 billion in Q2 from $943 million, beating analysts’ estimates.

The digital media segment includes Creative Cloud, which also includes Web video building application Flash, Photoshop and InDesign for book, magazine and – yes – daily newsletter publishing.

Subscription revenue rose nearly 37 percent to $1.48 billion in the three months ended June 2, after which Adobe put its monthly prices up. Adobe’s shares have risen 53 percent this year.

Net income rose to $374.4 million from $244.1 million a year earlier while revenue jumped 26.7 percent to $1.77 billion, Adobe said.

You may also like
Australian Companies Lap Up CR Software, Gartner Figures Show
Adobe Attempt To Screw Older Photoshop License Owners Backfires
Adobe Takes On Salesforce With AI ‘Experience Platform’
Aussie-Owned Canva Tipped To Be Next Adobe Design
Adobe Appoints New Asia-Pacific President