Adobe announces third-quarter 2020 results, with higher-than-year sales growth due to the impact of the new Corona
Adobe announced its third quarter 2020 results on Tuesday, September 15, 2020. The third quarter has been better than usual for Adobe as remote work and homework have increased due to the impact of the new coronavirus.
Adobe-Adobe Reports Record Revenue
Adobe tops third quarter financial targets | ZDNet
https://www.zdnet.com/article/adobe-tops-third-quarter-financial-targets/
Adobe reported revenue of about $ 3,203 million in the third quarter. It increased by 14% year-on-year, achieving the highest performance compared to the past third quarter. In addition, sales of subscriptions from Creative Cloud and Document Cloud increased by 14% from the previous year to about $ 3 billion (¥ 315,922 million). While subscription sales increased, product sales fell from about $ 157 million in the third quarter of 2019 to about $ 109 million. did.
In addition, Adobe's overall digital media revenue in the third quarter was approximately $ 2.34 billion, an increase of 19% over the previous year. Creative Cloud is about $ 1.96 billion (about 206.38 billion yen), up 19% from the previous year, and Document Cloud is about $ 375 million (about 39,486 million yen), up 22% from the previous year. We recorded strong performance in the fields of digital media and digital experience. In addition, cash flow in operating activities in the third quarter was 1.44 billion dollars (about 151,626 million yen), which was the highest ever.
'Despite the difficult economic conditions, the continued remote work and learning environment at home provided an opportunity to outperform our annual earnings in the summer of the third quarter,' said Adobe Chief Financial Officer. (CFO) John Murphy commented. According to Mr. Murphy, there were many patterns of sales decline in the third quarter every year. However, Murphy said that the new coronavirus combined with increased remote work and student home learning increased demand and traffic across Adobe's services.
'Adobe achieved record highs in the third quarter in a difficult economic environment, demonstrating global demand for innovative solutions,' said Shantanu Narayen, Adobe CEO. We are confident that our leadership in the creative, documentation and customer experience management categories will continue to gain momentum beyond 2020. '
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