Adobe

Software company Adobe just outed its financial results for the 3rd quarter of this year reporting a strong $2.29 billion in revenue for the third quarter of fiscal year 2018 representing a stunning 24% year-over-year revenue growth.

Digital Media segment revenue came at $1.61 billion with Creative revenue growing to $1.36 billion while the Document Cloud segment also scaled high to $249 million for the quarter.

Net income came at $666.3 million for the quarter with cash flows also amounting to $955 million while deferred revenue came in at $2.71 billion indicating a 23% year-on-year growth.

Adobe also notably re-purchased approximately 2.9 million shares this quarter returning $714 million to its shareholders in the process.

“Adobe continues to inspire creativity and drive business transformation as reflected in our record Q3 results,” said Adobe president and CEO Shantanu Narayen said in a statement “Students, creatives, enterprises and governments trust Creative Cloud, Document Cloud and Experience Cloud to create and deliver the transformative digital experiences required to compete today.”

“Our strong momentum continued into the second half of fiscal 2018 as Adobe delivered another quarter of sustained revenue growth, strong earnings and cash flow of nearly $1 billion,” John Murphy, The company’s executive vice president and CFO added.

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