Why the Recession Can't Stop Adobe System's Growth
This has been a good year for investors trying to separate the wheat from the chaff when it comes to companies worth buying stock in. Several companies with poor financial positions were caught with their pants down this year, and their stock prices are suffering as a result. But Adobe Systems (NASDAQ: ADBE) was not one of them.
Adobe is one of the largest software companies in the world and it has positioned itself well to thrive in the new economic paradigm created by the COVID-19 pandemic. The company sells software used to create digital media and marketing campaigns. It also provides cloud document storage solutions. This product catalog helps power remote workers and digital initiatives -- it's no wonder Adobe is doing well.
Adobe is best known for its creative suite software package which includes photo-editing software standard Photoshop, but Adobe offers a lot more than just image-editing software. The company reports revenue in three segments (as seen in the table below). Every segment has continued to see growth in 2020 despite the macroeconomic turmoil.
Source Fool.com
