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Adobe fiscal Q3 adjusted EPS beats estimates as revenue jumps 23.7% YOY

Adobe Inc. said its non-GAAP EPS for the fiscal third quarter ended Aug. 30 came to $2.05, beating the S&P Global Market Intelligence consensus normalized EPS estimate of $1.97.

Adjusted EPS increased 18.5% year over year from $1.73.

Non-GAAP net income totaled $1.01 billion, a gain of 17.0% from $859.8 million in the year-earlier period.

Total revenue climbed 23.7% on an annual basis to $2.83 billion from $2.29 billion.

GAAP net income grew 19.0% on an annual basis to $792.8 million, or $1.61 per share, from $666.3 million, or $1.34 per share.

In the fiscal fourth quarter, Adobe expects to earn $2.25 per share on an adjusted basis and $1.68 per share on a GAAP basis. Revenue for the quarter was projected to be at $2.97 billion.