Inside Adobe’s Record-Breaking Quarter (& What Else to Expect in 2020)

September 08, 2020 by Brent W Peterson

Inside Adobe’s Record-Breaking Quarter (& What Else to Expect in 2020)

This entry was posted on September 08, 2020 by Brent W Peterson
Adobe’s second fiscal quarter of 2020 officially ended on May 29, and despite the coronavirus pandemic, the company reported record-breaking success in its digital experience segment. With more people than ever working from home, Adobe technologies that assist in remote work practices increased by 5%, earning the company a total of $826 million in this segment alone. Magento Commerce was one of the influencing products within this product group, helping employees and managers successfully navigate new work-from-home routines with ease.

Why Digital Experience Matters During Covid-19

John Murphy, the executive vice president and CFO of Adobe, explained, “We drove record Digital Media net new ARR for Q2, highlighting how mission-critical creative and document solutions are in engaging remotely.” Since millions of people have turned to online shopping instead of venturing outside during the pandemic, eCommerce businesses must stand out in order to attract attention and repeat customers. Magento Commerce makes it easy for retailers to manage their sites and create winning online experiences with tools like:

  • Integrated B2B functionalities.
  • Mobile-first capabilities, including the Progressive Web App studio.
  • Front-end page builder (no coding experience needed!).
  • Customizable dashboards to keep track of key business metrics.
  • Cost-efficient fulfillment options.
  • Effortless third-party integrations to create rich and engaging customer journeys.

Predictions for Q3

When Adobe reports its third-quarter outcomes around September 15, it’s estimated that Adobe’s sales will increase by a total of 11%. People are still heavily relying on Adobe technologies to remain successful and connected while working from home, and this trend isn’t expected to change anytime in the near future. Although sales in other specific Adobe segments have been suffering a little since the Covid-19 outbreak (such as products in the Advertising Cloud), the web traffic for document and creative products is at an all-time high.

The president and CEO of Adobe, Shantanu Narayen, says, “The tectonic shift towards ‘all things digital’ across all customer segments globally will serve as a tailwind to our growth initiatives as we emerge from this crisis.” It looks like Adobe and Magento will continue going strong throughout the rest of the year and long after the coronavirus crisis comes to an end.