Adobe's quarterly results exceeded forecasts thanks to cloud service

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Following the results of the second financial quarter, American software developer Adobe has reported a 22% growth in revenue for the digital media segment to 1.89 billion dollars, finversia.ru reports, referring to the company's statements. The quarterly figure surpassed economists estimate of $1.86 billion. At the same time, the Experience Cloud division received a quarterly revenue of $784 million, an increase of 34%. Earnings per share also exceeded forecasts, not taking into account a number of balance sheet items. This figure was 1.86 dollars per share against the experts' forecast of 1.78 dollars per share. Adobe's published statements contributed to the growth of the company's shares by 4.6% during trading on Wednesday. At the same time, Adobe reported that in the third fiscal quarter, its revenues could not reach the forecasts of experts, amounting to $2.8 billion.

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