Adobe Q1 Earnings Beat Estimates

Adobe Q1 Earnings Beat Estimates

Adobe, the software maker whose tools are used by many designers and developers, is reporting that its first quarter non-GAAP earnings were 66 cents a share, handily beating Wall Street estimates of 61 cents per share. Revenue was $1.38 billion, a 25 percent year-over-year increase.

Revenue for its Creative Cloud offering, which includes Photoshop, climbed 44 percent to $733 million. ZDNet writes, “Adobe has become a poster child for successful migration to subscription-based services, as its creative apps continue to appeal to a range of professionals and hobbyists.”

For the year, Adobe is projecting revenue of $5.8 billion.

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