Adobe's revenue surpassed Wall Street's forecasts in the first quarter of the fiscal year thanks to strong sales of its portfolio of products for design with artificial intelligence. Digital media revenue in the first quarter amounted to $4.23 billion, exceeding analysts' expectations of $4.19 billion.
According to data collected by the London Stock Exchange, the company's revenue amounted to $5.71 billion, also surpassing expectations of $5.66 billion. The company's adjusted profit was $5.08 per share compared to forecasts of $4.97 per share.
"It is expected that Adobe will achieve revenue in the second quarter, corresponding to our opportunities due to strengthening in strategic sectors," the company said in a statement.
