Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday announced third-quarter results, reporting adjusted earnings that increased year-over-year and topped expectations.
At $4.43 billion, third-quarter revenues were up 13% from the prior-year period and matched the market’s projection. The top line benefited from strong growth by the core operating segments.
Net profit, excluding special items, rose to $3.40 per share from $3.11 per share last year and came in above the consensus forecast. Unadjusted net income was $1.14 billion or $2.42 per share, compared to $1.21 billion or $2.52 per share in the third quarter of 2021.
Check this space to read management/analysts’ comments on Adobe’s Q3 results
“Fueled by our groundbreaking technology, track record of creating and leading categories and consistent execution, Adobe delivered another record quarter,” said Adobe’s CEO Shantanu Narayen.