Adobe sees ‘record’ $1.38B revenue in Q1, adds 798K paying Creative Cloud subscribers

Today Adobe reported its first quarter earnings for 2016, yet again revealing “record” quarterly revenue. This time the company raked in revenues of $1.38 billion and $0.66 earnings per share (non-GAAP). Adobe has set a revenue record for the past three quarters.

Analysts expected Adobe to report $1.34 billion in revenue and $0.61 non-GAAP earnings per share. As such, the company’s stock is now up by more than 7 percent after hours.

Adobe says it added 798,000 (net) new paying Creative Cloud subscribers this quarter — that’s 4.252 million in total.

Adobe’s earnings today reinforces what we already knew: The company’s move to subscription-based creative apps is working out well. Compared to last year, Adobe creative revenue (think: Photoshop, Illustrator, etc.) grew 44 percent to $733 million this quarter, while Adobe’s marketing business grew 22 percent to $377 million.

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