Adobe's Q1 revenue jumps 9% to $4.66 billion
Adobe Inc. announced on Wednesday its revenue in the first quarter of the fiscal year 2023 saw an annual rise of 9% to come in at a record $4.66 billion, while its diluted earnings per share (EPS) increased by 1.9% year-on-year to reach $2.71 per share. The result came above market expectations.
As per the report, operating income was mostly unchanged in comparison with the same period in 2022, while its net income decreased by 1.5% in the same timeframe to stand at $1.25 billion.
"Adobe drove record Q1 revenue and we are raising our annual targets based on the tremendous market opportunity and continued confidence in our execution," CEO Shantanu Narayen remarked. Following the release of the report, Adobe's shares jumped 4.24% in after-hours trading.