Adobe Sales Forecast Beats Estimates With Creative Products Leading

Adobe Sales Forecast Beats Estimates With Creative Products Leading

Adobe gave a sales forecast that topped analysts’ estimates, signaling that strong demand for its creative products continues to drive growth, according to Bloomberg.

Revenue in the current quarter will be about $2.42 billion, and profit, excluding some costs, may reach $1.87 a share, the company said in a statement. Analysts projected $2.41 billion in sales and earnings of $1.86 a share.

Adobe’s creative and digital media segment still represents the majority of its revenue. The company projected sales from the unit will increase about 22 percent from a year earlier in the current period. Division sales grew almost 29 percent in the fiscal fourth quarter of 2017.

Revenue from the segment climbed 27 percent to $1.61 billion in the period ended Aug. 31. To power future growth, the company has launched more mobile apps to boost its appeal among hobbyists. The software maker has also pursued a strategy to make its traditional apps available on mobile devices, starting with Photoshop next year.

Total revenue increased 24 percent to $2.29 billion in the fiscal third quarter. Profit, excluding some items, was $1.73 a share. Analysts estimated sales of $2.25 billion and adjusted earnings of $1.69 a share.

Sales from the company’s experience cloud unit, which includes marketing, data and e-commerce programs, increased 21 percent to $614 million. The division got a boost from Adobe’s acquisition of Magento in June, which is supposed to match Salesforce’s software that helps manage online commerce.

More from category

U.S. Companies Find Legal Ways Around Trump’s Huawei Blacklist

U.S. Companies Find Legal Ways Around Trump’s Huawei Blacklist

27 Jun 2019 comment

American technology companies have resumed selling certain products to Huawei after concluding there are legal ways to work with the Chinese telecom giant, according to Bloomberg.

IBM and The Weather Channel Combat Freshwater Scarcity

IBM and The Weather Channel Combat Freshwater Scarcity

27 Jun 2019 comment

IBM and The Weather Company launched Forecast: Change, a new initiative to help combat freshwater scarcity in communities around the world.

Trump Says U.S. Should Sue Facebook and Google

Trump Says U.S. Should Sue Facebook and Google

27 Jun 2019 comment

Donald Trump complained again about supposed bias against conservatives at social media companies and said the U.S. government should sue Google and Facebook, according to Bloomberg.