Country Media, Inc. Buys Three Newspapers From News Media Corp. (mediapost.com)

Second Quarter Fiscal Year 2020 Financial Highlights *Adobe achieved record quarterly revenue of $3.13 billion in its second quarter of fiscal year 2020, which represents 14 percent year-over-year growth. Diluted earnings per share was $2.27 on a GAAP basis, and $2.45 on a non-GAAP basis. *GAAP operating income in the second quarter was $1.02 billion, and non-GAAP operating income was $1.34 billion. GAAP net income was $1.10 billion, and non-GAAP net income was $1.19 billion. *Cash flows from operations was $1.18 billion.

**Net sales increased 9% to $127.4 billion in the first quarter, compared with $116.4 billion in first quarter 2022. Excluding the $2.4 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with first quarter 2022. *North America segment sales increased 11% year-over-year to $76.9 billion. *International segment sales increased 1% year-over-year to $29.1 billion, or increased 9% excluding changes in foreign exchange rates. *AWS segment sales increased 16% year-over-year to $21.4 billion. **Operating income increased to $4.8 billion in the first quarter, compared with $3.7 billion in first quarter 2022. First quarter 2023 operating income includes approximately $0.5 billion of charges related to estimated severance costs. *North America segment operating income was $0.9 billion, compared with operating loss of $1.6 billion in first quarter 2022. *International segment operating loss was $1.2 billion, compared with operating loss of $1.3 billion in first quarter 2022. *AWS segment operating income was $5.1 billion, compared with operating income of $6.5 billion in first quarter 2022.

Adobe introduced AI Assistant in beta, a new generative AI-powered conversational engine in Reader and Acrobat. Deeply integrated into Reader and Acrobat workflows, AI Assistant instantly generates summaries and insights from long documents, answers questions and formats information for sharing in emails, reports and presentations. AI Assistant is bringing generative AI to the masses, unlocking new value from the information inside the approximately 3 trillion PDFs in the world. AI Assistant leverages the same artificial intelligence and machine learning models behind Acrobat Liquid Mode, the award-winning technology that supports responsive reading experiences for PDFs on mobile. These proprietary models provide a deep understanding of PDF structure and content, enhancing quality and reliability in AI Assistant outputs.