The company’s entry into the cloud market with its Adobe Creative Cloud and Document Cloud products is considered one of its driving developments. To date, more than 10 million subscribers have been signed up for the Creative Cloud system.
In fiscal year 2020, Adobe reported record company revenue of $12.87 billion. This is a 15% increase over fiscal 2019 revenue figures and over $1 billion more. In addition, the 2020 record is nearly triple the 2013 revenue, which was just over $4 billion.
The fourth quarter of fiscal 2020 also set a record for Adobe, with net income of $2.3 billion. That’s a 135% increase from the previous quarter and 105% more than the previous record of $1.1 billion set in Q2 of that year.
Adobe is still a mainstay of the software industry. This is in part because the company has invested heavily in its research and development (R&D) department. In 2020, Adobe spent $2.19 billion on R&D, up from $863 million in 2015 – an increase of more than 150%.