Adobe Systems beats by $0.09, beats on revs
- Reports Q3 (Aug) earnings of $1.10 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $1.01; revenues rose 25.8% year/year to $1.84 bln vs the $1.82 bln Capital IQ Consensus.
- Digital Media segment revenue was $1.27 billion, with Creative revenue growing to $1.06 billion.
- Digital Media Annualized Recurring Revenue ("ARR") grew to $4.87 billion exiting the quarter, a quarter-over-quarter increase of $308 million. Adobe Experience Cloud achieved revenue of $508 million, which represents 26 percent year-over-year growth.
- Operating income grew 43 percent and net income grew 46 percent year-over-year on a non-GAAP basis. Cash flow from operations was $704 million, and deferred revenue grew to ~$2.20 billion.
- The company repurchased ~2.1 million shares during the quarter, returning $298 million of cash to stockholders.
- Will also update guidan