Adobe Systems Inc (NASDAQ:ADBE) posted strong financial report for its Q1 2018 closed March 2, 2018. The company posted record quarterly revenue of $2.08 billion, which represents 24% YoY revenue growth. Diluted earnings a share came at $1.17 on a GAAP-basis, while it stood at $1.55 on a non-GAAP basis.
Adobe Systems reported that digital media segment revenue came at $1.46 billion, with creative revenue surging to $1.23 billion. Document Cloud achieving revenue came at $231 million in the reported quarter. Digital Media “ARR” surged to $5.72 billion closing the quarter, a jump of $336 million QoQ. Creative ARR jumped to $5.07 billion, while Document Cloud ARR came at $647 million.
Adobe Systems reported that digital Experience segment revenue came at $554 million, which exhibits 16% YoY growth. Operating income jumped 50% while net income surged 46% YoY on a GAAP-basis. Operating income surged 43% while net income jumped 64% YoY on a non-GAAP basis.
For Q4 2018, cash flow from operations came at $990 million, while deferred revenue grew 25% year-over-year to around $2.57 billion. The company repurchased around 1.6 million shares in Q4 2018, returning as much as $301 million of cash to shareholders.
Shantanu Narayen, the CEO and President of Adobe, expressed that the company’s remarkable growth is led by allowing their consumers to be more creative, work smarter and change their operations through their relentless focus on offering intelligence and innovation across their solutions.
Mark Garrett, the CFO and Executive Vice President, expressed that their leadership in the extensive addressable markets they established, combined with company’s leveraged operating model, led to another record quarter in the first quarter. Adobe stock has been buzzing among investors since the company posted its Q1 FY2018 results. The numbers were stellar, which certainly can help ADBE to register new highs.