Today Adobe reported its first quarter earnings for 2016, yet again revealing “record” quarterly revenue. This time the company raked in revenues of $1.38 billion and $0.66 earnings per share (non-GAAP). Adobe has set a revenue record for the past three quarters.
Analysts expected Adobe to report $1.34 billion in revenue and $0.61 non-GAAP earnings per share. As such, the company’s stock is now up by more than 7 percent after hours.
Adobe says it added 798,000 (net) new paying Creative Cloud subscribers this quarter — that’s 4.252 million in total.
Adobe’s earnings today reinforces what we already knew: The company’s move to subscription-based creative apps is working out well. Compared to last year, Adobe creative revenue (think: Photoshop, Illustrator, etc.) grew 44 percent to $733 million this quarter, while Adobe’s marketing business grew 22 percent to $377 million.