On September 20, Adobe reported revenues for its fiscal third quarter of $1.46 billion and adjusted earnings per share of 75 cents – exceeding expectations by $100 million and three cents, respectively, according to TheStreet.com.
In addition to beating investor expectations, Adobe raised its forecast for the current quarter to a range between 83 and 89 cents per share — well above the 78 cents that Wall Street expects.
Subscription revenue accounted for 78.5% of the total in fiscal 2016, up from 69.4% in 2015, and declining one-time license sales will be less of a drag on the company going forward.
Digital Media ARR (annualized recurring revenue) was up 39.2% to $4.01 billion in fiscal 2016, giving the company a solid base for future growth.
As a powerhouse company for imaging in the digital and e-commerce age, expansion for ADBE should continue to be strong for at least another two years.
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