Software giant Adobe Inc. (ADBE) recently posted strong third-quarter results, with its EPS beating the consensus estimate. The company offers products and services that professionals, marketers, knowledge workers, application developers, enterprises, and consumers use for creating, managing, measuring, optimizing, and engaging with compelling content and experiences.
In the third quarter, ADBE’s Digital Media business reported $3.23 billion in revenue, and the net new Digital Media Annualized Recurring Revenue (ARR) came in at $449 million. Its total Digital Media ARR exiting the third quarter grew to $13.40 billion. In addition, its Experience Cloud business achieved $1.12 billion in revenue, and subscription revenue was $981 million.
