Anyone working in or around the magazine industry knows one thing for certain: Everyone’s got an opinion. Prognostications on the print magazine industry range from doom and gloom to nothing but sunshine and moonbeams. If you’re in the business of print magazines, like we are, you don’t have the luxury of choosing one position or the other. Common business sense requires us to critically examine what’s really going on. Is the print magazine industry in danger of collapse? Let’s take a closer look. Roy Stevenson is a travel magazine writer and industry coach, so he’s deeply in touch with the realities of his market niche. “These naysayers will tell anyone within earshot that the Internet has completely overtaken the print industry,” Stevenson writes on his travel writing site PitchTravelWrite. “One prominent travel blogger even predicted that by the year 2020 print magazines would cease to exist! Naturally, as a print media freelance writer I feel more than a little concern when I hear these gloomy predictions,” he continues. Click Read More below for more of the story.
Adobe (Nasdaq:ADBE) today reported financial results for its third quarter fiscal year 2017 ended Sept. 1, 2017.
• 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.
A reconciliation between GAAP and non-GAAP results is provided at the end of this press release and on Adobe’s website.
“Adobe delivered another record quarter with stellar year-over-year revenue growth of 26 percent,” said Shantanu Narayen, president and CEO, Adobe. “The imperative to deliver intelligent, intuitive and effective customer experiences is key to the C-suite agenda of digital transformation, and Adobe’s cloud offerings are critical to that business mandate.”
“Our results in Q3 once again reflect the leverage of our financial model, with record revenue driven by our cloud-based subscription offerings, strong earnings and cash flow from operations,” said Mark Garrett, executive vice president and CFO, Adobe.
more detail at: http://news.adobe.com/press-release/corporate/adobe-reports-record-revenue-4