Strong Cash Flow and Earnings Highlight Third Quarter Results
SAN JOSE, Calif. — Sept. 19, 2017 — Adobe (Nasdaq:ADBE) today reported financial results for its third quarter fiscal year 2017 ended
Sept. 1, 2017.
Financial Highlights
- Adobe achieved record quarterly revenue of $1.84 billion in its third quarter of fiscal year 2017, which represents 26 percent yearover-year
revenue growth. - Diluted earnings per share was $0.84 on a GAAP-basis, and $1.10 on a non-GAAP basis.
- Digital Media segment revenue was $1.27 billion, with Creative revenue growing to $1.06 billion.
- Digital Media Annualized Recurring Revenue (“ARR”) grew to $4.87 billion exiting the quarter, a quarter-over-quarter increase of $308 million.
- Adobe Experience Cloud achieved revenue of $508 million, which represents 26 percent year-over-year growth.
- Operating income grew 48 percent and net income grew 55 percent year-over-year on a GAAP-basis; operating income grew 43 percent and net income grew 46 percent year-over-year on a non-GAAP basis.
- Cash flow from operations was $704 million, and deferred revenue grew to approximately $2.20 billion.
- The company repurchased approximately 2.1 million shares during the quarter, returning $298 million of cash to stockholders.
A reconciliation between GAAP and non-GAAP results is provided at the end of this press release and on Adobe’s website.
Some of our articles may include affiliate links. If you purchase through these links, we may earn an affiliate commission at no extra cost to you.