Wednesday, January 27, 2021

ADOBE revenues rose 2.7% this quarter

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Analysts has declared that the Adobe has outperformed in quarterly profit and revenue estimates, driven by digital media growth with its flagship product, Creative Cloud.

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The shares of the company, which is famous for the developing Photoshop to modify images, rose 2.7% in the post-hours period, while ADOBE is increasing its focus on fast-growing cloud business, a highly competitive market dominated by Microsoft, Oracle and Sales force. .

The company expects revenues to be about $ 2.80 billion in the third quarter, lower than analysts’ estimates of $ 2.83 billion, according to IBES data from Refinitiv.

Revenue jumped 25% to $ 2.74 billion in the second quarter ended May 31, and net income fell to $ 632.6 million, or $ 1.29 per share, from $ 663.2 million, or $ 1.33 per share, a year earlier.

Read also: Technique to identify criminals through their hands soon

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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