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Adobe (ADBE) reports Q3 2023 earnings. Here’s all you need to know

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Adobe Inc. (NASDAQ: ADBE) reported financial results for the third quarter of 2023. The design software maker also provided guidance for the fourth quarter.

The company’s Q3 revenues came in at $4.89 billion, compared to $4.43 billion in the year-ago quarter. The core Digital Media business contributed significantly to the top-line growth.

Adjusted earnings, excluding one-off items, was $4.09 per share vs. $3.40 per share last year. The company reported net income of $1.40 billion or $3.05 per share for the August quarter, on an unadjusted basis, compared to $1.14 billion or $2.42 per share in the year-ago period.

“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio. The recent launches of Firefly, Express, Creative Cloud, and GenStudio make Adobe magic available to millions of users,” said Adobe’s CEO Shantanu Narayen.

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