Adobe Q1 - Earnings Beat
March 20, 2017
Adobe reported financial results for its first quarter fiscal year 2017 ended March 3, 2017. The firm achieved record quarterly revenue of $1.68 billion in its first quarter of fiscal year 2017.
Diluted earnings per share came in at $0.80 on a GAAP-basis, and $0.94 on a non-GAAP basis. Digital Media segment revenue was $1.14 billion, with record Creative revenue growing to $942 million.
Investors sought adjusted earnings of only 87 cents per share. Adobe share price is up 40 percent over the last year. The company has attained a market capitalization of more than $63 billion.
Strong Creative Cloud and Document Cloud adoption and retention drove Digital Media Annualized Recurring Revenue (“ARR”) to $4.25 billion exiting the quarter, a quarter-over-quarter increase of $265 million.
Adobe Marketing Cloud achieved record revenue of $477 million.
Operating income grew 52 percent and net income grew 57 percent year-over-year on a GAAP-basis; operating income grew 40 percent and net income grew 42 percent year-over-year on a non-GAAP basis.
Cash flow from operations was a
record $730 million, and deferred revenue grew to approximately $2.1