Press release
Adobe Reports Record Revenue in Q3 Fiscal 2023
Company achieves record Q3 net new Digital Media ARR of $464 million Company delivers EPS growth exceeding 20 percent year over year SAN JOSE,
About this update from Adobe Inc.
[{"type":"text","content":"\n\nCompany achieves record Q3 net new Digital Media ARR of $464 million\n\n\n\nCompany delivers EPS growth exceeding 20 percent year over year\n\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nAdobe (Nasdaq:ADBE) today reported financial results for its third quarter fiscal year 2023 ended Sept. 1, 2023.\n\n\n“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio,” said Shantanu Narayen, chair and CEO, Adobe. “The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users.”\n\n\n“Adobe delivered world-class margins and earnings in Q3, while making significant investments in our technology platforms,” said Dan Durn, executive vice president and CFO, Adobe. “Our innovation engine, global reach and strong operational rigor position us to capture the massive opportunities ahead.”\n\n\nThird Quarter Fiscal Year 2023 Financial Highlights\n\n\n\nAdobe achieved revenue of $4.89 billion in its third quarter of fiscal year 2023, which represents 10 percent year-over-year growth or 13 percent in constant currency. Diluted earnings per share was $3.05 on a GAAP basis and $4.09 on a non-GAAP basis.\n\n\n\nGAAP operating income in the third quarter was $1.70 billion and non-GAAP operating income was $2.26 billion. GAAP net income was $1.40 billion and non-GAAP net income was $1.88 billion.\n\n\n\nCash flows from operations were $1.87 billion.\n\n\n\nRemaining Performance Obligations (“RPO”) exiting the quarter were $15.72 billion.\n\n\n\nAdobe repurchased approximately 2.1 million shares during the quarter.\n\n\n\nThird Quarter Fiscal Year 2023 Business Segment Highlights\n\n\n\nDigital Media segment revenue was $3.59 billion, which represents 11 percent year-over-year growth or 14 percent in constant currency. Creative revenue grew to $2.91 billion, representing 11 percent year-over-year growth or 14 percent in constant currency. Document Cloud revenue was $685 million, representing 13 percent year-over-year growth or 15 percent in constant currency.\n\n\n\nNet new Digital Media Annualized Recurring Revenue (“ARR”) was $464 million, exiting the quarter with Digital Media ARR of $14.60 billion. Creative ARR grew to $11.97 billion and Document Cloud ARR grew to $2.63 billion.\n\n\n\nDigital Experience segment revenue was $1.23 bill...