Sales of adult trade books fell 1.6% in the first nine months of 2016, compared to the same period in 2015, according to figures released this morning by the Association of American Publishers as part of its StatShot program. Sales of children’s and young adult books increased 4.9% in the same period. Within the adult book segment, the overall decline was mainly due to a 16.9% drop in e-book sales and a 2.2% drop in hardcover sales. In the small physical audiobook segment, sales dropped 10.6%. Digital audio had the strongest gain in the period, with sales up 29.5% over 2015. Trade paperback sales rose 8.2%. E-books accounted for 22.7% of sales in segment for the period, down from 26.9% in the comparable time span in 2015. click Read More below for more of the story
Adobe (Nasdaq:ADBE) today reported strong financial results for its third quarter fiscal year 2018 ended August 31, 2018.
• Adobe achieved record quarterly revenue of $2.29 billion in its third quarter of fiscal year 2018, which represents 24 percent year-over-year revenue growth.
• Diluted earnings per share was $1.34 on a GAAP-basis, and $1.73 on a non-GAAP basis.
• Digital Media segment revenue was $1.61 billion, with Creative revenue growing to $1.36 billion and Document Cloud achieving record revenue of $249 million, which represents 21 percent year-over-year growth.
• Digital Media Annualized Recurring Revenue (“ARR”) grew to $6.40 billion exiting the quarter, a quarter-over-quarter increase of $339 million. Creative ARR grew to $5.66 billion, and Document Cloud ARR grew to $744 million.
• Digital Experience segment revenue was $614 million, which represents 21 percent year-over-year growth. Digital Experience subscription revenue grew 25 percent year-over-year in the quarter.
• Operating income grew 32 percent and net income grew 59 percent year-over-year on a GAAP-basis; operating income grew 32 percent and net income grew 57 percent year-over-year on a non-GAAP basis.
• Cash flow from operations was $955 million, and deferred revenue grew 23 percent year-over-year to approximately $2.71 billion.
• Adobe repurchased approximately 2.9 million shares during the quarter, returning $714 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 continues to inspire creativity and drive business transformation as reflected in our record Q3 results,” said Shantanu Narayen, president and CEO, Adobe. “Students, creatives, enterprises and governments trust Creative Cloud, Document Cloud and Experience Cloud to create and deliver the transformative digital experiences required to compete today.”
“Our strong momentum continued into the second half of fiscal 2018 as Adobe delivered another quarter of sustained revenue growth, strong earnings and cash flow of nearly $1 billion,” said John Murphy, executive vice president and CFO, Adobe.
more detail at: https://news.adobe.com/press-release/corporate/adobe-reports-record-revenue-6