Summary by Moomoo AI
Adobe, a global technology company, reported strong financial performance in the third quarter of fiscal 2024, with significant growth in its Digital Media and Digital Experience segments. The company's total Digital Media Annualized Recurring Revenue (ARR) reached approximately $16.76 billion, marking a 9% increase from the previous fiscal year. Creative revenue grew by 10% year-over-year to $3.19 billion, while Document Cloud revenue saw an 18% increase to $807 million. Digital Experience revenue also rose by 10% to $1.35 billion, driven by a 12% increase in subscription revenue. Adobe's net income surged by 20% to $1.68 billion compared to the same period last year. The company's business development was highlighted by the expansion of Creative Cloud offerings, including the introduction of Adobe Express and Adobe Firefly, which are...Show More
