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The software company posted record quarterly revenue of $6.76 billion and beat analyst estimates, but its stock fell after hours
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Adobe $ADBE reported record third-quarter revenue of $6.76 billion on Thursday and said it crossed one billion monthly active users, while raising its full-year financial targets.
Total revenue climbed 13% year-over-year, with subscriptions accounting for the majority of the gain at $6.58 billion, compared with $5.79 billion twelve months prior. The company earned $1.83 billion in net income, translating to $4.62 per diluted share, versus $1.77 billion, or $4.18 per share, in the year-ago period. On an adjusted basis, earnings came in at $6.13 per share. Analysts had expected adjusted earnings of $6.08 per share and revenue of $6.69 billion, according to the Wall Street Journal.
