Adobe reported third-quarter revenue of $6.76 billion, a 13% year-over-year increase, with adjusted earnings of $6.13 per share. Net income reached $1.83 billion, while operating cash flow hit a record $2.52 billion. The company repurchased 9.5 million shares for $2.23 billion.
Annualized revenue from artificial intelligence products exceeded $650 million, marking a 150% annual growth. Monthly active users across creative and productivity apps surpassed 1 billion, with freemium users accounting for over 100 million. Subscription revenue for the Business Professionals & Consumers segment rose 16% to $1.91 billion.
For the fourth quarter, Adobe projects revenue between $6.80 billion and $6.85 billion, with adjusted earnings of $6.30 to $6.35 per share. The full-year revenue target was adjusted to a range of $26.576 billion to $26.626 billion.
Leadership changes are scheduled for December 1, when Anil Chakravarthy will assume the role of chief executive. Current Chair and CEO Shantanu Narayen will transition to the position of executive chair.
