THE strong adoption of cloud solutions has driven a 20 percent year-over-year revenue growth for software specialist Adobe. Shantanu Narayen, president and chief executive officer of Adobe, says, “Adobe’s cloud solutions are powering digital transformation at the world’s biggest brands, educational institutions and government agencies. Our record revenue reflects our market leadership and the exploding demand for digital experience solutions.†Adobe achieved record quarterly revenue of US$1.4bn. Its digital media segment revenue grew by 26 percent year-over-year with creative revenue growing 37 percent. The company says strong creative cloud and document cloud adoption drove digital media annualized recurring revenue to US$3.41bn. Operating income grew 45 percent and net income grew 48 percent on a non-GAAP basis. Mark Garrett, executive vice president and chief financial officer at Adobe, says, “Record revenue with strong profit and cash flow highlight our second quarter results. Based on our first half performance and momentum, we’re on track to meet or exceed all of our annual fiscal year 2016 targets.â€
Cloud adds silver lining for Adobe
