Another record-breaking quarter for Adobe
As the consumer-facing FAANGs begin to feel the wrath of global regulators, software subscription companies continue to quietly chug away under the radar. Hardly any are performing as well as Adobe.
Consumer-facing stocks tend to dominate the coverage of the US tech sector. The phenomenal growth of the FAANGs – Facebook, Apple, Amazon, Netflix and Google-owner Alphabet – conjures eye-catching headlines, while their massive influence in society draws opinion from all corners.
Adobe (US: ADBE) chugs below the radar, quietly generating phenomenal growth and operating margins which have averaged more than 30% in the last three years. The company doesn’t report its numbers in the traditional earnings season (its financial year runs to November), and its revenue growth doesn’t rely on consumer-facing products, meaning it doesn’t generate the same levels of…
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