|Photo by Kevin|
It’s starting to feel old hat by now: another quarter, another record-breaking earnings report coming out of Adobe. No matter how much people—present company certainly not excluded—gripe about Adobe’s move to the Creative Cloud subscription model, the software company is absolutely raking in the dough as a result.
The last record-breaking revenue report we shared out of Adobe came in Q3 of 2017, when Adobe announced that it had earned $1.84 billion that quarter. Now, in Q1 of 2018, they’re staring at that figure in the rearview mirror.
This quarter, the company yet again broke records, posting record quarterly revenue of $2.08 billion, $1.23 billion of which came straight from Creative Cloud in the Digital Media Segment. That $2.08B figure represents a jump of 24 percent year-over-year, and contributes to the 43 percent growth in YoY operating income and 64 percent growth in YoY net income that Adobe also revealed today.
You can dive into the nitty gritty details in the release below, and see the full number-by-number breakdown in this PDF.
Adobe Achieves Record Revenue
Creative ARR Exceeds $5 Billion in Q1 FY2018
Thursday, March 15, 2018 4:05 pm EDT | San Jose, California – Adobe (Nasdaq:ADBE) today reported strong financial results for its first quarter fiscal year 2018 ended March 2, 2018.
- Adobe achieved record quarterly revenue of $2.08 billion in its first quarter of fiscal year 2018, which represents 24 percent year-over-year revenue growth.
- Diluted earnings per share was $1.17 on a GAAP-basis, and $1.55 on a non-GAAP basis.
- Digital Media segment revenue was $1.46 billion, with Creative revenue growing to $1.23 billion and Document Cloud achieving revenue of $231 million.
- Digital Media Annualized Recurring Revenue (“ARR”) grew to $5.72 billion exiting the quarter, a quarter-over-quarter increase of $336 million. Creative ARR grew to → continue…
|Presentation chart from Canon’s Corporate Strategy Conference, indicating its goal to seize 50% of the interchangeable-lens camera market.|
There it is, clear as day. One week after a Canon executive said in an interview that Canon is finally willing to cannibalize DSLR sales to invest in mirrorless, Canon CEO Fujio Mitarai has made an even more definitive statement during his presentation at the company’s Corporate Strategy Conference on March 6th.
A summary of Mr. Fujito’s speech can be found in this PDF, but the relevant paragraph—in which he’s talking of growing markets Canon will become more involved in—is quoted in full below (emphasis added):
Within existing businesses, there are market areas that are growing, such as color devices in MFDs and laser printers, and mirrorless in cameras. In these segments, by launching differentiated products that only we can provide, we will stimulate the market, grow our sales, and secure additional market share.
For example, in our core camera business, in addition to our overwhelming share of the DSLR market, we will go on the offensive and work to expand our sales in the mirrorless camera market, which is exhibiting remarkable growth. This will allow us to reach our goal of 50% market share of the entire interchangeable-lens camera market.
50% market share “of the entire interchangeable-lens camera market” is no small goal, and the declaration that Canon will “go on the offensive” to expand sales in the mirrorless market lends some official credence to rumors of full-frame mirrorless prototypes. It also makes this prediction by a Sony executive feel all the more prescient.
“Cheap” doesn’t mean inexpensive. For me, cheap equipment is gear that just about does something, but barely, and not too well. Sort of like how a thin plastic fork is cheap.
Sometimes all you can afford is cheap equipment. How do you make it work and still produce great videos? Here are some practical tips to help you get started:
Exclusive Bonus: Download my free cheatsheet (with examples) of the most important and useful focal lengths for film and video (PDF file optimized for mobiles and tablets).
In a nutshell:
- Don’t apologize for your gear. Have faith in it.
- Don’t fight your camera. Don’t expect for it to do something it can’t.
- Don’t shoot log. Find the profile you like and stick with it (read the manual to know which is the best profile).
- Shoot within the camera’s strengths.
- Set your shutter to 1/50s
- Stop down your lens by one or two stops for best quality.
- Add weight to your cheap tripod.
- Get your microphone as close as possible to the speaker. No exceptions.
- Create low resolution proxy footage and you’ll be able to edit anything, even 4K and 8K.
- Buy my interview lighting guide!