Adobe reported quarterly earnings and revenue that exceeded analysts’ estimates.
The software company’s adjusted earnings per share for the third quarter came in at $2.25, beating analysts’ expectations of $1.97. The earnings-per share was +18% higher compared to the prior year quarter.
Revenue increased +23% year-over-year to $2.83 billion, higher than analysts’ expectation of $2.815 billion. It also beat the company's own guidance of $2.8 billion.
Subscription revenue for the quarter came in at $2.546 billion, surpassing estimates of $2.527 billion. The figure also increased from last year's $2.021 billion.
The company has projected fourth quarter revenue of $2.97 billion, which is below analysts' projections of $3.04 billion. It expects adjusted EPS of $2.25, also below analysts’ expectations of $2.30.