Press release
Adobe Reports Record Revenue in Q3 Fiscal 2022
Digital Media ARR Exceeds $13 Billion Exiting the Quarter; Adobe Announces Acquisition of Figma SAN JOSE, Calif.--(BUSINESS WIRE)-- Adobe (Nasdaq:ADBE) today
About this update from Adobe Inc.
[{"type":"text","content":"\nDigital Media ARR Exceeds $13 Billion Exiting the Quarter; Adobe Announces Acquisition of Figma\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nAdobe (Nasdaq:ADBE) today reported financial results for its third quarter fiscal year 2022 ended Sept. 2, 2022.\n\n“Fueled by our groundbreaking technology, track record of creating and leading categories and consistent execution, Adobe delivered another record quarter,” said Shantanu Narayen, chairman and CEO, Adobe. “With the announcement of our intent to acquire Figma, we believe we have a unique opportunity to usher in a new era of collaborative creativity.”\n\n“Adobe achieved record revenue and strong profitability in the quarter, demonstrating that our products are mission-critical to individuals, small businesses and the world’s largest enterprises,” said Dan Durn, executive vice president and CFO, Adobe. “Our operational rigor combined with our strong engine of innovation are driving growth across our platforms and will fuel future growth as the digital economy continues to expand.”\n\nThird Quarter Fiscal Year 2022 Financial Highlights\n\n\nAdobe achieved record revenue of $4.43 billion in its third quarter of fiscal year 2022, which represents 13 percent year-over-year growth or 15 percent in constant currency. Diluted earnings per share was $2.42 on a GAAP basis and $3.40 on a non-GAAP basis.\n\n\nGAAP operating income in the third quarter was $1.48 billion, and non-GAAP operating income was $1.96 billion. GAAP net income was $1.14 billion, and non-GAAP net income was $1.60 billion.\n\n\nCash flows from operations were $1.70 billion.\n\n\nRemaining Performance Obligations (“RPO”) exiting the quarter were $14.11 billion.\n\n\nAdobe repurchased approximately 5.1 million shares during the quarter.\n\n\nThird Quarter Fiscal Year 2022 Business Segment Highlights\n\n\nDigital Media segment revenue was $3.23 billion, which represents 13 percent year-over-year growth or 16 percent in constant currency. Creative revenue grew to $2.63 billion, representing 11 percent year-over-year growth or 14 percent in constant currency. Document Cloud revenue was $607 million, representing 23 percent year-over-year growth or 25 percent in constant currency.\n\n\nNet New Digital Media Annualized Recurring Revenue (“ARR”) was $449 million, exiting the quarter with Digital Media ARR of $13.40 billion. Crea...