Adobe's third-quarter performance exceeded expectations, with annualized AI business revenue surpassing $5 billion.

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Adobegave strong quarterly revenue forecasts, indicating that the software maker’s investments in artificial intelligence capabilities are paying off.

On September 11, Adobe released its financial report, with third-quarter revenue of $5.99 billion, up 11% year-on-year, exceeding expectations.Adjusted earnings per share were $5.31, also higher than the expected $5.18.The key points of the financial report are as follows:

Financial Performance: Third-quarter revenue reached $5.99 billion, up 11% year-on-year, exceeding analysts’ expectations of $5.91 billion. Adjusted earnings per share were $5.31, higher than the expected $5.18. Net profit increased from $1.68 billion in the same period last year to $1.77 billion, and earnings per share rose from $3.76 to $4.18.AI Business Breakthrough: Annual recurring revenue from AI-related products exceeded $5 billion, and AI-first product ARR has already surpassed the year-end target of $250 million.Business Growth: Digital media business grew 12% year-on-year to $4.46 billion, ARR reached $18.6 billion; the forecast for full-year digital media ARR growth was raised to 11.3%.Outlook: The full-year revenue guidance was raised to $23.65–$23.70 billion, and fourth-quarter revenue is expected to be $6.08–$6.13 billion.

After the earnings report was released, Adobe’s stock price jumped as much as 8% after hours, before sharply narrowing its gain to 2.77%. Notably, Adobe’s stock has dropped 21% so far this year, significantly underperforming the Nasdaq Index’s 14% rise.

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