Adobe achieves record $2 bn revenue in fourth quarter

Riding on the success of its Creative, Document and Experience Cloud portfolios, software giant Adobe on Wednesday said that it has achieved record $2.01 billion revenue in the fourth quarter of fiscal year 2017 that ended on 1 December.

The company also registered annual revenue of $7.30 billion — representing a 25 per cent year-over-year growth.

“Adobe delivered record revenue of $2 billion in Q4. Our strong business momentum is driven by the market-leading solutions we provide to empower people to create and businesses to digitally transform,” Shantanu Narayen, president and CEO of Adobe, said in a statement.

The company said that its ‘Digital Media’ segment revenue was $1.39 billion, with Creative and Document Cloud achieving record quarterly revenue of $1.16 billion and $235 million, respectively. Digital Media Annualised Recurring Revenue (ARR) grew to $5.23 billion exiting the quarter, a quarter-over-quarter increase of $359 million.

Adobe Experience Cloud achieved record revenue of $550 million, which represents a 18 per cent year-over-year growth.

“Adobe achieved record annual and quarterly revenue and the leverage in our business model once again drove record profit and earnings,” said Mark Garrett, executive vice-president and CFO of Adobe, adding that “We are raising our fiscal 2018 revenue target and remain bullish about delivering strong top line and bottom line growth.”

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Riding on the success of its Creative, Document and Experience Cloud portfolios, software giant Adobe on Wednesday said that it has achieved record $2.01 billion revenue in the fourth quarter of fiscal year 2017 that ended on 1 December. The…