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3/22/2022, 9:07 PM (Source: TeleTrader)
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Adobe's Q1 revenue up by 9% to $4.26 billion

Adobe Inc. announced on Tuesday its revenue in the first quarter of the fiscal year 2022 saw an annual rise of 9% to come in at $4.26 billion. Its operating income went up by 8.66% in comparison with the same period in 2021 to reach $1.58 billion, while its net income advanced by 0.4% in the same period to stand at $1.27 billion. The company's diluted earnings per share (EPS) increased by 1.92% year-on-year to hit $2.66 per share. The figures were all in line with or slightly under expectations.

"Adobe's Q1 results reflect the company’s strong execution and resilience through unprecedented circumstances," Executive Vice-President and Chief Financial Officer (CFO) Dan Durn commented. "Our momentum, product innovation and immense market opportunity position us for success in 2022 and beyond."

Following the release of the report, Adobe's shares declined by 2.94% in after-hours trading.

Baha Breaking News (BBN) / JR