Adobe reported its earnings for the third quarter of 2012, with revenue increasing to $1.08 billion, up 7% year-over-year. It reported an operating profit of nearly $278 million, and a net income of $201 million.
Its cash reserves increased to $1.16 billion, while its short term investments increased to $2.08 billion. Its operating cash flow for the quarter was $263 million.
Creative Cloud paid subscription growth in the third quarter was very encouraging, with the total user base growing to nearly 200,000 by the end. Its digital marketing suite also recorded nearly 40% year-over-year growth.
Shantanu Narayen, president and CEO of Adobe, said:
“Customers globally are adopting our new Creative Cloud subscription offering more quickly than we projected. We are the leader in the fast-growing Digital Marketing category with 40 percent year-over-year Digital Marketing Suite revenue growth this quarter.”
Adobe also projected revenue for the next quarter in the same range of $1.075 billion to $1.125 billion.