Adobe Cites Creative Cloud as Major Factor in Record Revenue Growth

From Adobe:

Strong Cloud Product Adoption in Q1 FY2016 Fuels 25 Percent Year-over-year Revenue Growth

SAN JOSE, Calif. — Mar. 17, 2016 — Adobe (Nasdaq:ADBE) today reported financial results for its first quarter fiscal year 2016 ended Mar. 4, 2016.

First Quarter Financial Highlights

• Adobe achieved record quarterly revenue of $1.38 billion, representing year-over-year growth of 25 percent.
• Diluted earnings per share were $0.50 on a GAAP-basis, and $0.66 on a non-GAAP basis.
• Digital Media segment revenue grew by 33 percent year-over-year to a record $932 million, with Creative revenue growing 44 percent year-over-year to a record $733 million.
• Strong Creative Cloud adoption drove Digital Media Annualized Recurring Revenue (“ARR”) to $3.13 billion exiting the quarter, an increase of $246 million.
• Adobe Marketing Cloud achieved strong bookings growth, and record revenue of $377 million that represents year-over-year growth of 21 percent.
• Year-over-year operating income grew 78 percent and net income grew 200 percent on a GAAP-basis; operating income and net income both grew 48 percent on a non-GAAP basis.
• Cash flow from operations was $498 million, and deferred revenue grew to $1.61 billion.
• The company repurchased approximately 1.5 million shares during the quarter, returning $133 million of cash to stockholders.

A reconciliation between GAAP and non-GAAP results is provided here.

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