Adobe reported strong 1Q results wherein revenues and earnings topped Street estimates as well as marked solid year-over-year improvements. Buoyed by a strong quarterly performance, the software maker raised its outlook for fiscal 2021. Adobe’s (ADBE) 1Q adjusted earnings soared 38% to $3.14 per share year-over-year and surpassed analysts’ expectations of $2.79. Moreover, revenues of $3.91 billion came ahead of consensus estimates of $3.76 billion and registered a year-on-year increase of 26%. Revenues in the Digital Media business unit jumped 32% to $2.86 billion. Meanwhile, the Digital Experience division’s sales grew 24% to $934 million.
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