Adobe Reports Record Q3 FY219 Growth But Stock Drops Anyway
Subscriptions now represent nearly 90% of total revenue.
Cloud software company Adobe is on a roll with another strong earnings report. For the period ended August 30, 2019, Adobe (NASDAQ: ADBE) had a record quarter with $2.83 billion in revenue, representing 24% growth year-over-year. Subscriptions revenue represented $2.5 billion of total revenue (89.8%), product represented $157.3 million (5.6%), and services and support represented $130.2 million (4.6%).
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