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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.
- Adobe achieved record quarterly revenue of $1.84 billion in its third quarter of fiscal year 2017, which represents 26 percent yearover-year
- 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.