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Tuesday, Mar 19
A little more on Adobe: Free cash flow was $261.8M, well above net income of $178M. Marketing...
A little more on Adobe: Free cash flow was $261.8M, well above net income of $178M. Marketing Cloud (online ad tech) revenue +20% Y/Y to $215M (21% of total). Digital Media revenue -5% Y/Y and digital marketing +1%, both affected by shift to subscriptions. EMEA was soft, -10% Y/Y. Americas -1%, Asia -1%. Opex +16% Y/Y thanks to cloud software investments. Gross margin was 84.4%, -530 bps Y/Y (due to cost of supporting cloud services). Paid Creative Cloud subs have passed 500K this quarter, free/trial users are above 2M.