Adobe Revenues Up 11 Percent to $5.41 Billion

Adobe reported that it earned a net income of $1.68 billion on revenues of $5.41 billion in the quarter ending August 30, 2024. Revenues were up 11 percent year-over-year (YOY), with Adobe crediting the strength of its core three businesses.

“Adobe’s record Q3 performance is a testament to our relentless innovation and commitment to delivering value to our customers,” Adobe chairperson and CEO Shantanu Narayen said. “With groundbreaking advancements in AI across Creative Cloud, Document Cloud, and Experience Cloud, we are empowering millions of users worldwide.”

Adobe’s biggest business segment, Digital Media, delivered the lion’s share of its revenues, or $4 billion, a gain of 11 percent YOY. $3.19 billion of that came from Creative Cloud–Photoshop, Premiere Pro, Illustrator, Lightroom, InDesign, and so on–up 10 percent YOY, while the remaining $807 billion came through the PDF-centric Document Cloud, with 18 percent YOY growth.

Its other business segment, Digital Experience, provides software as a service (SaaS) capabilities that support the rest of the business. It landed at $1.35 billion in revenues, up 10 percent YOY. Of this, $1.23 billion was subscription revenue, with 12 percent YOY growth.

Adobe will host its annual MAX conference next month in Miami. It’s expected to unveil its AI-based Firefly generative video models and other advances at the show.