Publishers Urged To Use First-Party Data, Cultivate Gen Z (mediapost.com)

• Adobe achieved record quarterly revenue of $1.84 billion in its third quarter of fiscal year 2017, which represents 26 percent year-over-year revenue growth. • Diluted earnings per share was $0.84 on a GAAP-basis, and $1.10 on a non-GAAP basis. • Digital Media segment revenue was $1.27 billion, with Creative revenue growing to $1.06 billion. • Digital Media Annualized Recurring Revenue (“ARR”) grew to $4.87 billion exiting the quarter, a quarter-over-quarter increase of $308 million. • Adobe Experience Cloud achieved revenue of $508 million, which represents 26 percent year-over-year growth. • Operating income grew 48 percent and net income grew 55 percent year-over-year on a GAAP-basis; operating income grew 43 percent and net income grew 46 percent year-over-year on a non-GAAP basis. • Cash flow from operations was $704 million, and deferred revenue grew to approximately $2.20 billion. • The company repurchased approximately 2.1 million shares during the quarter, returning $298 million of cash to stockholders. Click Read More below for additional detail.

S&P Global announced it has entered into an agreement to sell its Leveraged Commentary and Data (LCD) business and its related family of leveraged loan indices to Morningstar Inc. Morningstar has agreed to purchase LCD for $650 million in cash, comprised of $600 million paid at closing, subject to adjustment, and a contingent payment of up to $50m of which is payable six months following the closing upon the achievement of certain conditions related to the transition of LCD customer relationships. The transaction is subject to customary closing conditions, including antitrust approvals. LCD is a leading research group that provides highly differentiated and proprietary research on the U.S. and European leveraged loan, high-yield bond, collateralized loan obligation (CLO) and mid-market/direct lending markets.

U.S. ad spending continued to rebound in May, according to a new, enriched database from Standard Media Index. The data, which is derived from SMI's expanded pool of actual media buys contributed by major agency holding companies, includes IPG Mediabrands, which announced in February that it was rejoining SMI's cooperative pool, and which beginning this month has been reincorporated. The addition of IPG Mediabrands means that SMI's U.S. database is more representative and less modeled for total media spending volume among the major agency holding companies. The new data, meanwhile, shows the U.S. ad market surged 56% in May, following a 53% gain in April and a 22% increase in March, which was the first to show a year-over-year rebound from the pandemic-influenced advertising recession, which began a year earlier.