Adobe Reports Record Q3 Revenue of $1.84 Billion
On Tuesday, Adobe (NASDAQ: ADBE) reported financial results for the third quarter of fiscal year 2017 for the period ended September 1. The company posted record quarterly revenue of $1.84 billion, a 26 percent increase year-over-year. Digital Media revenue represented the most significant portion of total revenue at $1.27 billion, a 28 percent increase year-over-year. Digital Media annualized recurring revenue (ARR) grew to $4.87 billion at the end of the quarter, a net increase of $308 million. This growth in net ARR was driven by strength in Adobe’s Creative Cloud and Adobe Document Cloud businesses.
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