(NASDAQ: ADBE) has been a great growth stock for long-term investors. Over the past 10 years, shares of the cloud-based software company surged nearly 1,000% as it dazzled the market with its remarkable growth rates.

Between fiscal 2012 and 2022 (ended Dec. 2, 2022), Adobe's annual revenue enjoyed a compound annual growth rate of 15% as its adjusted net income rose at a 19% rate. That expansion was driven by the market's robust demand for its industry-standard media tools (like Photoshop, Illustrator, and Premiere Pro), as well as the expansion of its marketing, analytics, and e-commerce services.

Adobe's lack of meaningful competitors, the stickiness of its cloud-based subscriptions, and growth potential of its enterprise-facing services all still make it a sound investment for long-term investors. Today, I'll focus on three key aspects of this cloud king's business that smart investors should know.

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Source Fool.com