Adobe reports record quarterly revenue of $1.16 billion

Adobe has paved the way for the transition from packaged software suites to a new software as a service (SaaS) subscription models for its Creative Cloud suite of design software, a move that other software companies have successfully emulated. Adobe recently reported record quarterly revenue of $1.16 billion  for its second quarter fiscal year 2015 ended May 29, 2015. 

Adobe's been at the forefront of improving the various ways customers can access and employ their Creative Cloud solutions. The company has also been busy enabling various mobile apps and by building a tight ecosytem that allows users to create, edit and collaborate on almost any device they may be using.

"Strong execution against our Creative Cloud, Document Cloud and Marketing Cloud businesses drove record revenue," said Shantanu Narayen, Adobe president and chief executive officer. "We are accelerating the pace of innovation in our Cloud offerings and are thrilled to be launching our best Creative Cloud release to date, which includes Adobe Stock – our new stock content service."

The company  alsorepurchased approximately 2.6 million shares during the quarter, returning $200 million of cash to stockholders.