Adobe Inc. (ADBE) Reports Strong Q1 2024 Results with Revenue and Profit Exceeding Forecasts
Thursday, 14 March 2024, 20:11
ADBE Earnings: Adobe Q1 2024 Revenue and Profit Beat Estimates
Revenue Growth:
First-quarter revenues soared to $5.18 billion, marking an 11% increase from the previous year.
Profit Surge:
Adjusted net profit for Q1 rose to $4.48 per share, a substantial growth from $3.80 per share in the prior year.
Unadjusted net income was $620 million or $1.36 per share, compared to $1.25 billion or $2.71 per share in Q1 2023.
“We’ve done an incredible job harnessing the power of generative AI to deliver groundbreaking innovation across our product portfolio,” stated Adobe’s CEO Shantanu Narayen.
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