Adobe reports record $3.94 billion third-quarter revenue

GaryPageau

Adobe reported record revenue of $3.94 billion in its third fiscal quarter of 2021, which represents 22 percent year-over-year growth, for the period ending Sept. 2.

“Adobe had another outstanding quarter as Creative Cloud, Document Cloud and Experience Cloud continue to transform storytelling, learning and conducting business in a digital-first world,” said Shantanu Narayen, president and CEO, Adobe. “Our talented employees, category-defining innovation and product leadership uniquely position us for continued momentum and success.”

Highlights by segment:

  • Digital Media segment revenue was $2.87 billion, which represents 23 percent year-over-year growth. Creative revenue grew to $2.37 billion, representing 21 percent year-over-year growth. Document Cloud revenue was $493 million, representing 31 percent year-over-year growth.
  • Digital Media Annualized Recurring Revenue (“ARR”) increased $455 million quarter over quarter to $11.67 billion exiting the quarter. Creative ARR grew to $9.87 billion and Document Cloud ARR grew to $1.79 billion.
  • Digital Experience segment revenue was $985 million, representing 26 percent year-over-year growth. Digital Experience subscription revenue was $864 million, representing 29 percent year-over-year growth.
  • GAAP operating income in the third quarter was $1.44 billion, and non-GAAP operating income was $1.81 billion. GAAP net income was $1.21 billion, and non-GAAP net income was $1.50 billion.