04:41 PM EDT, 09/12/2024 (MT Newswires) -- Adobe (ADBE) late Thursday reported stronger-than-expected fiscal third-quarter results, driven by double-digit revenue gains in digital media and experience.

The software maker's adjusted earnings per share rose to $4.65 in the three months ended Aug. 30 from $4.09 the year earlier, compared with the Capital IQ-polled consensus of $4.54. Revenue jumped 11% to $5.41 billion, higher than Wall Street's $5.37 billion view.

The digital media segment's revenue rose 11% to $4 billion, driven by gains in document cloud and creative sales. Digital experience saw a 10% increase in revenue to $1.35 billion, with subscription revenue gaining 12%.

For the fourth quarter, Adobe projected adjusted EPS of $4.63 to $4.68 on revenue between $5.50 billion to $5.55 billion. The market consensus indicates $4.67 and $5.60 billion, respectively.

Adobe's shares were sliding 8.8% in after-hours activity.

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