Fri. Jan 24th, 2020

Adobe (Nasdaq:ADBE)

18 min read

Adobe (Nasdaq:ADBE) stated newly its fiscal results for its 4th-quarter and financial year 2k19 finished Nov. 29, 2k19.

In its 4th-quarter of financial year 2k19, Adobe achieved record quarterly revenue of $2.990B, which represents 21.00 percent year-over-year growth. In financial year 2k19, Adobe achieved record annual revenue of $11.170B, which represents 24.00 percent year-over-year growth.

“Adobe’s phenomenal performance in Q4 capped a record fiscal 2k19 with revenue exceeding $11.00B,” said Shantanu Narayen, president and CEO, Adobe. “Adobe’s vision, category leadership, continuous product innovation and large and loyal customer base position us well for 2k20 and beyond.”

“Adobe delivered another year of strong revenue growth and expanding profitability resulting in record earnings,” said John Murphy, executive vice president and CFO, Adobe. “We are bullish about our opportunities and our ability to continue to deliver strong top- and bottom-line growth.”

4th-Quarter Financial Year 2k19 Financial Highlights

  • Adobe achieved record quarterly revenue of $2.990B in its 4th-quarter of financial year 2k19, which represents 21.00 percent year-over-year growth. Diluted earnings for each share was $1.740 on a GAAP-basis, and $2.290 on a non-GAAP basis.
  • Digital Media segment revenue was $2.080B, which represents 22.00 percent year-over-year growth. Creative revenue grew to $1.740B and Document Cloud revenue was $339.00M. Digital Media Annualized Recurring Revenue (“ARR”) grew to $8.40B exiting the quarter, a quarter-over-quarter incline of $539.00M. Creative ARR grew to $7.310B, and Document Cloud ARR grew to $1.090B.
  • Digital Experience segment revenue was $859.00M, representing 24.00 percent year-over-year growth.
  • GAAP operating income in the 4th-quarter was $970.00M, and non-GAAP operating income was $1.270B. GAAP net income was $852.00M, and non-GAAP net income was $1.120B.
  • Cash flow from operations was a record $1.380B.
  • Remaining Performance Obligation was $9.820B, a quarter-over-quarter incline of $1.050B.
  • Adobe repurchased approximately 2.80M shares throughout the quarter.

 

Fiscal Year 2k19 Financial Highlights

  • Adobe achieved record annual revenue of $11.170B in financial year 2k19, representing 24.00 percent year-over-year growth.
  • The company reported annual GAAP diluted earnings for each share of $6.00 and non-GAAP diluted earnings for each share of $7.870.
  • Digital Media segment revenue was $7.710B, with Creative and Document Cloud achieving record annual revenue of
    $6.480B and $1.220B, respectively. Digital Media ARR grew by $1.690B throughout the year.
  • Digital Experience segment revenue was $3.210B, representing 31.00 percent year-over-year growth, and subscription bookings grew by more than 20.00 percent throughout the year.
  • Operating income grew 15.00 percent and net income grew 14.00 percent year-over-year on a GAAP-basis; operating income grew
    23.00 percent and net income grew 15.00 percent year-over-year on a non-GAAP basis.
  • Adobe generated a record $4.420B in operating cash flow throughout the year.
  • The company repurchased 9.90M shares throughout the year, returning $2.70B of cash to stockholders.

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