Adobe Systems Incorporated (ADBE) has reported a 53.39 percent jump in profit for the quarter ended Jun. 02, 2017. The company has earned $374.39 million, or $0.75 a share in the quarter, compared with $244.07 million, or $0.48 a share for the same period last year.
Revenue during the quarter grew 26.70 percent to $1,772.19 million from $1,398.71 million in the previous year period. Gross margin for the quarter expanded 94 basis points over the previous year period to 86.49 percent. Total expenses were 71.56 percent of quarterly revenues, down from 75.39 percent for the same period last year. This has led to an improvement of 383 basis points in operating margin to 28.44 percent.
Operating income for the quarter was $504.08 million, compared with $344.24 million in the previous year period.
"Digital transformation continues to be the burning agenda for creative professionals, enterprises, governments and educational institutions," said Shantanu Narayen, president and chief executive officer, Achief executive officerdobe. "Adobe is the go-to company for creating world-class digital customer journeys from design to delivery to measurement and monetization."
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