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Design software maker Adobe Inc. (NASDAQ: ADBE) on Wednesday reported higher revenue and profit for the first three months of fiscal 2023. The company also provided guidance for the second quarter.
First quarter revenue came in at $4.66 billion, which was up 9% from last year’s quarter. The top line benefited from strong growth in the core Digital Media business.
Adjusted net profit, excluding one-time items, rose to $3.80 per share from $3.37 per share last year. Unadjusted net income was $1.25 billion or $2.71 per share, compared to $1.27 billion or $2.66 per share in the first quarter of 2022.
Check out this space to read management/analyst commentary Adobe’s Q1 results
“Adobe made a record Q1 revenue and we raised our annual target based on the tremendous market opportunity and continued confidence in our execution,” said Adobe’s CEO Shantanu Narayen.
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