September 17, 2019 / 8:15 PM / a month ago

Adobe quarterly revenue beats on strong subscription growth

Sept 17 (Reuters) - Adobe Inc beat Wall Street estimates for quarterly revenue on Tuesday, boosted by a rise in subscriptions in its digital media business that includes image editing software Photoshop.

Revenue rose 24% to $2.83 billion in the third quarter ended Aug.30, beating analysts’ average estimate of $2.82 billion, according to IBES data from Refinitiv.

Net income rose to $792.8 million, or $1.61 per share, from $666.3 million, or $1.34 per share, a year earlier. (Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur)

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