By Denny Jacob

Adobe Inc. posted better-than-expected revenue in the latest quarter, a bright spot among technology companies dealing with an economic slowdown.

The software maker posted net income of $1.25 billion, or $2.71 a share, for the first quarter ended March 3, compared to $1.27 billion, or $2.66 a share, a year earlier. Adjusted earnings were $3.80 a share, above analysts' estimates of $3.68 a share.

Revenue rose to $4.66 billion from $4.26 billion. Analysts polled by FactSet expected $4.62 billion.

Digital media segment revenue grew 9%, creative revenue increased 8% and document cloud revenue climbed 13% from a year earlier.

Chief Financial Officer Dan Durn said innovation combined with operational rigor drove profitable growth in the quarter.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 15, 2023 16:33 ET (20:33 GMT)

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