Wednesday, May 25, 2022
Tech ObserverNewsEnterprise ITAdobe revenue climbs 25% to $2.60 billion in Q1 2019

Adobe revenue climbs 25% to $2.60 billion in Q1 2019

Enterprise software maker Systems said that its revenue in first quarter of fiscal year 2019 rose 25% to $2.60 billion from $2.08 billion last year. The company attributed the growth to strong revenue in its cloud business.

segment revenue was $1.78 billion, with Creative revenue growing to $1.49 billion and achieving revenue of $282 million. Overall in the first quarter, the Photoshop maker reported profit of $674.24 million from $583.08 million last year.

In segment-wise, the Digital Media business witness a growth of 22%, Digital Experience business grew 34% and Publishing business saw the growth of 26% in the Q1 of 2019.

In terms of region, the Americas with $1510 million surge 29%, EMEA with $703 million gain 20% and Asia saw the growth of 21% leading to $388 million revenue.

“We’re off to a strong start in fiscal 2019, with record revenue, strong earnings and more than $1 billion of operating cash flow in our first quarter,” said John Murphy, executive vice president and CFO, Adobe.

Since 2012, Adobe has been focusing on cloud based subscriptions to boost revenue. Its software as a service offering gives users access to a range of its software, for a monthly or annual subscription. Customers prefer the cloud route instead of buying individual products and software suites for a licensee fee, said the company.

“Adobe is fueling the creative economy, driving the paper-to-digital revolution and enabling businesses to transform through our leadership in customer experience management,” said Shantanu Narayen, president and CEO, Adobe. “Our results in Q1 reflect continued momentum across Adobe Creative Cloud, Document Cloud and Experience Cloud.”

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