Adobe Beats Quarterly Revenue Expectations, CEO Praises Their Digital Media Business for Growth

Adobe Beats Quarterly Revenue Expectations

For those who don’t know, Adobe Systems Incorporated (NASDAQ:ADBE) posted their quarterly revenue and profit on Thursday, and it exceeded expectations across the board. And today, CEO Shantanu Narayen told CNBC that the growth was primarily driven by its refurbished digital media business.

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On Friday, Narayen said, “What’s changing actually is we’re targeting a much larger opportunity in the enterprise. Thinking about not just how you do marketing and visitor acquisition, but thinking about that engagement in a deep and fundamental way.”

As for the report itself, Adobe brought in $1.26 per share. For perspective, analysts were forecasting the company to earn $1.16 per share. While Wall Street was expecting Adobe’s total revenue to be at $1.95 billion, the company’s revenue soared 25% to $2.01. The digital media business itself increased 29.2% to $1.39 billion.

Narayen added, “There are very few companies that have the profile that we have which is growing the top line and bottom line at the margins at which we have.”

Featured Image: twitter