- Revenue increased by 23 per cent in the three months to 4 June to $3.74bn
- The company is guiding too $3.88bn of revenue in the third quarter
To analysts at Jefferies, second quarter results for US software giant Adobe (US:ADBE) were “one of the strongest we’ve seen ADBE deliver, as all three growth engines appear to be firing on all cylinders”.
With the pandemic accelerating the shift towards a more digital world, the three months to 4 June saw revenue jump by 23 per cent year-on-year to $3.84bn (£2.77bn) – ahead of the company’s guidance of $3.72bn – with subscriptions accounting for 92 per cent of total sales.
Momentum was led by the digital media business, which includes creative cloud software solutions such as Photoshop, and document cloud offerings such as Adobe Sign for e-signatures. On the back of new product innovations and increasing customer retention, revenue from this division leapt by a quarter year-on-year to $2.79bn. This includes the addition of more than $500m of annualised recurring revenue, reflecting higher sales of…
