Sector: Technology|Industry: Software - Infrastructure|Market Cap: $242.08B|Employees: 29.9K
Adobe is a global technology company focused on providing software solutions for digital media and digital experiences. The company's core business revolves around its Creative Cloud and Experience Cloud platforms, offering tools for content creation, document management, and customer experience optimization. Adobe holds a leading position in the creative software market and has a broad geographic presence, serving a diverse range of customers from individual creators to large enterprises.
Total revenue reached $5.41 billion, an 11% increase compared to $4.89 billion in the same quarter last year. This growth was primarily driven by a 12% increase in subscription revenue, which now accounts for 96% of total revenue.
Gross profit was $4.85 billion, representing 90% of total revenue, consistent with the prior year. This indicates the company's ability to maintain profitability despite increased operating expenses.
Operating expenses increased to $2.86 billion, a 10% increase compared to $2.61 billion in the same quarter last year. This increase is primarily due to higher research and development and sales and marketing expenses.