9/15, 10:15 PM (Source: TeleTrader)
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Adobe's revenue jumps 14% to $3.23B in Q3

Adobe Systems Inc. reported on Tuesday its revenue in the third quarter of 2020 stood at a record $3.23 billion, jumping 14% from the same period a year ago and topping market estimates. Digital Media revenue surged 19% to $2.34 billion, while Creative revenue rose to $1.96 billion and Cloud revenue was up to $375 million.

Diluted GAAP earnings per share (EPS) surged 22% year on year to $1.97 and net income stood at $955 million in the three-month period. The company added that its operating income was up 25% on an annual basis to $1.07 billion.

"Adobe delivered the best Q3 in our history in a challenging macroeconomic environment, demonstrating the global demand for our innovative solutions," CEO Shantanu Narayen stated.

Adobe's shares jumped 2.5% in after-hours trading on better-than-expected results.

Breaking the News / NP