The software company Adobe, creator of the PDF format, has reached the milestone of one billion users at a time when it is focusing its efforts on expanding artificial intelligence to drive user base growth and generate long-term revenue.
Third quarter results show a profit of $1.83 billion (1.57 billion euros), equivalent to $4.62 per share, representing an increase from the $1.77 billion or $4.18 per share recorded in the same period the previous year. Total revenue increased 13% to $6.76 billion (5.82 billion euros), surpassing analyst expectations that pointed to $6.69 billion. Subscription revenue, which represents the largest portion of earnings, grew from $5.79 billion to $6.58 billion.
Adobe is also undergoing significant leadership changes. Last week, it appointed Anil Chakravarthy, previously responsible for customer experience, as the next chief executive, with his term beginning on December 1. Additionally, the company is seeking a new chief financial officer following the departure of Dan Durn in June, who joined Marvell Technology.
The company has also raised its projections for the full fiscal year, estimating adjusted profit between $24.45 and $24.50 per share and revenue between $26.576 and $26.626 billion.
