The Adobe company has released its financial results for the third quarter of fiscal year 2022, which ended on September 2, 2022.
According to the statement made by Adobe’s Chairman and Chief Executive Officer Shantanu Narayen, the company has managed to achieve record quarter results again due to its innovational technologies, their experience in category creation and leadership in this sphere, and also the consistency of performing. He also added that the company is granted with an unprecedented opportunity to start a new stage in a sphere of collaborative work after the announcement of its plans to purchase Figma.
Adobe’s executive vice president and CFO Dan Durn also spoke on the achieved results. As it was said by Durn, the company got record revenues and good profitability in the third quarter, which reflects the importance of Adobe products for individual customers, as well as for entrepreneurs, small businesses and famous multinational corporations. He put emphasis on the combination of operational rigor with an effective engine of innovation, which guarantees the growth within the company’s products and enables future development, as digital economy keeps growing.
The record revenue figures achieved by the company reached the level of $4.45 billion for the third quarter of 2022. The increase by 13% is registered in comparison with the previous year’s results. Diluted earnings per share for the same period was reported to be $2.42 on a GAAP basis, while on a non-GAAP basis it was $3.40.
Concerning the operating income, GAAP one was $1.48 billion. $1.96 billion is the same measure, but non-GAAP. GAAP net income was estimated to be $1.14 billion, while it was reported that non-GAAP net income stood at $1.60 billion.
Reported figures for cash flows reached the level of $1.70 billion.
The company also rebought about 5.1 million shares over the reported period of time.