Revenue from Adobe’s digital experience business was a record $743 million in the first quarter, a 34 per cent increase year-over-year.
For the quarter ended March 1, 2019, Adobe recorded $2.6 billion in total revenue, representing 25 per cent year-over-year growth. Diluted earnings per share was $1.36 on a GAAP-basis, and $1.71 on a non-GAAP basis.
“The success of our Digital Experience business is bolstered by several industry tailwinds: the mandate for enterprises and organisations to digitally transform their businesses, and the need to deliver the world-class end-to-end customer experiences consumers have come to expect,” Adobe’s President and CEO, Shantanu Narayen, said during an earnings call late last week.
During the quarter Adobe’s Experience Cloud signed new key customers including HSBC, NBC Universal, Bass Pro Shops and WebMD.
“More and more businesses are choosing Adobe Experience Cloud, the industry’s only end-to-end solution for marketing, advertising, analytics and commerce, serving both B2C and B2B customers,” Narayen said.
“For today’s digital businesses, it’s not enough to have data, you need the right data, behavioural, transactional and operational, to understand your customer and the intelligence to act on it in context.”
Discussing the acquisitions of Marketo and Magento, Narayen said “we’re off to a strong start” and “we’re successfully integrating them into Adobe Experience Cloud”.
More detail around the company’s vision, strategy and technology roadmap for its digital experience business will be shared with partners and customers at Adobe’s company event in Las Vegas next week Narayen said.
Which-50 will be reporting from Adobe’s upcoming Summit, which Narayen said will be its largest to-date, and includes delegates who would have attended Marketo’s Marketing Nation event.
“We are excited to share our customer experience management vision, strategy and technology roadmap with our customers and partners,” he said.
Adobe’s other business units also recorded strong growth during the quarter. Digital Media segment revenue was $1.78 billion, with Creative Cloud revenue growing to $1.49 billion and Document Cloud achieving record revenue of $282 million.
“Across all industries and geographies, we are helping customers large and small transform themselves and their businesses with Adobe Creative Cloud, Document Cloud and Experience Cloud,” Narayen said.