The San Jose software house has published the financial results related to the second fiscal 2020 quarter ended May 29: Adobe it exceeded analysts’ expectations for earnings per share, but revenue fell short of expectations. Nonetheless, the company posted record profits of $ 1.1 billion.
Adobe’s quarterly report dragged from the cloud
The driving force behind the company’s business was the subscriptions to cloud services which brought a total of $ 2.87 billion into the coffers. On the other hand, compared to a year ago, the proceeds related to the direct sale of products, from 153 million dollars to the current 128 million, testifying to how more and more users are choosing to rely on subscription solutions. Earnings related to services and support were also down, from 135 to 126 million dollars. This is the comment of Shantanu Narayen, President and CEO.
Adobe’s strategy to help with content creation, automate critical document processes, and enable businesses to interact with their customers digitally led to breaking records in the quarter. The global shift towards “all digital” in every segment will be beneficial to our growth initiatives as we emerge from this crisis.
In recent months the group has celebrated thirty years of what is its most famous and well-known product, Photoshop, introducing a series of innovations designed to meet the new needs expressed by users and to make the most of the new tools available, including mobile ones. On the occasion on these pages we have dedicated an article to 1990 version, to understand where it all began.