Sony Digital Rapids Pixel Power calrec Sony

Adobe Surpasses $11 Billion in Annual Revenue

13/12/2019

SAN JOSE, Calif.--(BUSINESS WIRE)--Adobe (Nasdaq:ADBE) today reported financial results for its fourth quarter and fiscal year 2019 ended Nov. 29, 2019.

In its fourth quarter of fiscal year 2019, Adobe achieved record quarterly revenue of $2.99 billion, which represents 21 percent year-over-year growth. In fiscal year 2019, Adobe achieved record annual revenue of $11.17 billion, which represents 24 percent year-over-year growth.

Adobes phenomenal performance in Q4 capped a record fiscal 2019 with revenue exceeding $11 billion, 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 2020 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.

Fourth Quarter Fiscal Year 2019 Financial Highlights

Adobe achieved record quarterly revenue of $2.99 billion in its fourth quarter of fiscal year 2019, which represents 21 percent year-over-year growth. Diluted earnings per share was $1.74 on a GAAP-basis, and $2.29 on a non-GAAP basis.

Digital Media segment revenue was $2.08 billion, which represents 22 percent year-over-year growth. Creative revenue grew to $1.74 billion and Document Cloud revenue was $339 million. Digital Media Annualized Recurring Revenue ( ARR ) grew to $8.40 billion exiting the quarter, a quarter-over-quarter increase of $539 million. Creative ARR grew to $7.31 billion, and Document Cloud ARR grew to $1.09 billion.

Digital Experience segment revenue was $859 million, representing 24 percent year-over-year growth.

GAAP operating income in the fourth quarter was $970 million, and non-GAAP operating income was $1.27 billion. GAAP net income was $852 million, and non-GAAP net income was $1.12 billion.

Cash flow from operations was a record $1.38 billion.

Remaining Performance Obligation was $9.82 billion, a quarter-over-quarter increase of $1.05 billion.

Adobe repurchased approximately 2.8 million shares during the quarter.

Fiscal Year 2019 Financial Highlights

Adobe achieved record annual revenue of $11.17 billion in fiscal year 2019, representing 24 percent year-over-year growth.

The company reported annual GAAP diluted earnings per share of $6.00 and non-GAAP diluted earnings per share of $7.87.

Digital Media segment revenue was $7.71 billion, with Creative and Document Cloud achieving record annual revenue of

$6.48 billion and $1.22 billion, respectively. Digital Media ARR grew by $1.69 billion during the year.

Digital Experience segment revenue was $3.21 billion, representing 31 percent year-over-year growth, and subscription bookings grew by more than 20 percent during the year.

Operating income grew 15 percent and net income grew 14 percent year-over-year on a GAAP-basis; operating income grew

23 percent and net income grew 15 percent year-over-year on a non-GAAP basis.

Adobe generated a record $4.42 billion in operating cash flow during the year.

The company repurchased 9.9 million shares during the year, returning $2.7 billion of cash to stockholders.

A reconciliation between GAAP and non-GAAP results is provided at the end of this press release and on Adobe's website.

Adobe Provides Fiscal Year and First Quarter 2020 Financial Targets

The following table summarizes Adobe's fiscal year 2020 targets.

Adobe fiscal year 2020 revenue

$13.15 billion

Digital Media segment revenue

19 percent year-over-year growth

Digital Media annualized recurring revenue (ARR)

$1.55 billion of net new ARR

Digital Experience segment revenue

16 percent year-over-year growth

Digital Experience subscription revenue1

18 percent year-over-year growth

Digital Experience subscription bookings2

>20 percent year-over-year growth

Tax rate

GAAP: 11%

Non-GAAP: 11%

Share count

486 million shares

Earnings per share

GAAP: $7.40

Non-GAAP: $9.75

1

Includes revenue from SaaS, managed service, ratable term, usage based, and subscription service offerings for Digital Experience

2

Includes annualized subscription value of SaaS, managed service, term and subscription service offerings under contract for Data & Insights, Content & Commerce and Customer Journey Management solutions

The following table summarizes Adobe's first quarter fiscal year 2020 targets.

Adobe Q1 fiscal year 2020 revenue

$3.04 billion

Digital Media segment revenue

19 percent year-over-year growth

Digital Media annualized recurring revenue (ARR)

$360 million of net new ARR

Digital Experience segment revenue

15 percent year-over-year growth

Tax rate

GAAP: 5%

Non-GAAP: 11%

Share count

489 million shares

Earnings per share

GAAP: $1.76

Non-GAAP: $2.23

A reconciliation between GAAP and non-GAAP targets is provided at the end of this press release.

Adobe to Webcast Earnings Conference Call

Adobe will webcast its fourth quarter and fiscal year 2019 earnings conference call today at 2:00 p.m. Pacific Time from its investor relations website: www.adobe.com/ADBE. Earnings documents, including Adobe management's prepared conference call remarks with slides and an investor datasheet are posted to Adobe's investor relations website in advance of the conference call for reference. A reconciliation between GAAP and non-GAAP earnings results and financial targets is also provided on the website.

Forward-Looking Statements Disclosure

This press release contains forward-looking statements, including those related to business momentum, our market opportunity, market trends, customer success, revenue, operating margin, seasonality, a
LINK: https://news.adobe.com/press-release/corporate/adobe-surpasses-11-bill...
See more stories from adobe

Europe Stories

17/01/2020

NAMM 2020 - Sequential Pro 3

Multi-Filter Mono/Paraphonic Synthesizer Video of Sequential Pro3 - NAMM 2020 For more videos from NAMM, see SOSs dedicated YouTube channel, where all the vid...

17/01/2020

NAMM 2020 - AMS Model RMX 16

500 Series relaunched version Video of AMS Model RMX 16 - NAMM 2020 AMS Neve relaunch and reimagine the legendary RMX 16 in 500 Series format....

17/01/2020

NAMM 2020 - AKG Lyra

Podcast mic Video of AKG Lyra - NAMM 2020 AKG Launch their Lyra podcasting mic for PC, Mac, iOS and Android....

17/01/2020

NAMM 2020 - Waves Ovox

Real-Time Vocal ReSynthesis Video of Waves Ovox - NAMM 2020 Voice-controlled synth and vocal FX processor with Real-Time Vocal ReSynthesis...

17/01/2020

Amazon or Discovery could bid for Premier League Nordic rights'

Bidding process for 2022/23 season currently underway Jenny Priestley 4 hours ago Bidding process for 2022/23 season currently underway target=_blank t...

17/01/2020

NBCUniversal confirms international news service plans

Will use resources from Sky News Jenny Priestley 5 hours ago Will use resources from Sky News target=_blank title=Share on LinkedIn class=share-linkedi...

17/01/2020

Netflix predicted to spend $17.3 billion on content this year

Expected to surpass $26 billion by 2028 Dan Meier 4 hours ago Expected to surpass $26 billion by 2028 target=_blank title=Share on LinkedIn class=share...

17/01/2020

TVBEurope joins 2020 NAB Best of Show Awards

Nominations are now open Jenny Priestley 4 hours ago Nominations are now open target=_blank title=Share on LinkedIn class=share-linkedin> Nominations...

17/01/2020

Sharjah Grand Mosque Sings Praises with Broadcast Solutions ME and Ross Video

Sharjah Grand Mosque Sings Praises with Broadcast Solutions ME and Ross Video posted: 17/01/2020 More than five years in the making, Sharjah Grand Mosque ...

17/01/2020

DiGiCo shows new Quantum5 at NAMM 2020

Quantum 5 follows on from the huge success of DiGiCo's flagship Quantum 7. As with Quantum 7, the Quantum 5 engine slots neatly into the existing SD5 frame ...

17/01/2020

DiGiCo announces the DMI-KLANG at NAMM 2020

KLANG's acclaimed immersive in-ear mixing systems make spatial and transparent in-ear monitoring possible. With lower listening levels on average up to 6d...

17/01/2020

DiGiCo reveals Quantum338 at NAMM 2020

With Quantum338, we have ensured that we are providing a next generation console that works in synergy with our Quantum Engine, says Michael Aitchison, DiGiCo&...

17/01/2020

Object Matrix & Ortana Media Group Solution Brief

-- Object Matrix & Ortana Media Group Solution Brief Our Media Focused Hybrid Cloud Storage platforms meet the tactical and strategic needs of many stakehold...

17/01/2020

Bridge Technologies Appoints DVEO as Business Partner

Brings in-depth technical knowledge, extensive experience, total commitment to customer service OSLO, Norway - 15 January, 2020 Bridge Technologies today anno...

17/01/2020

ABC Figures show 1.68 billion national newspapers circulated in 2019

16/01/2020 A new industry agreed ABC figure for the national newspaper sector clearly illustrates the scale of today's printed newspaper market. Our new T...

17/01/2020

Hitachi Joined WIPO GREEN as a Contributing Partner

Tokyo, January 16, 2020 --- Hitachi, Ltd. (TSE:6501, Hitachi) today announced that Hitachi has joined WIPO GREEN as a contributing partner. WIPO GREEN is an ope...

17/01/2020

Spotify Has the Pawfect Playlist for You And Your Pet

There is something uniquely special about the relationship we humans have with our pets-it's one filled with unconditional love, licks, snuggles, and cuddle...

17/01/2020

Decision to allow judges' sentencing remarks to be broadcast welcomed by national broadcasters

Press Release on behalf of broadcasters ITN, Sky and BBC This is a landmark mom...

17/01/2020

SGO invites Insight users to join the rapidly expanding Mistika Boutique Community

View Larger Image SGO announces Mistika Insight, the former Education and Tra...

16/01/2020

Telenor Group announces CEO changes in Asian subsidiaries

Reading Time: 2 minutes Sharad Mehrotra, CEO of Telenor Myanmar, has been appointed the new CEO of dtac, Telenor Group's mobile operator in Thailand. He r...

16/01/2020

NAGRA highlights scalable service protection and smart content aggregation and monetisation solutions at CSTB 2020

Cheseaux, Switzerland and Phoenix, Ariz. - January 16, 2020 - At CSTB Telecom an...

16/01/2020

Clear-Com Hires In-House PR Point Person to Facilitate Expanding Communications Goals

Clear-Com has appointed Jeanine Zolczynski in the newly-created role of PR Coor...

16/01/2020

Tunisia to Launch SMS Disaster Alert System as Part of GSMA We Care'

Tunisia's Government and Operators Join Forces to Use Mobile Connectivity to Protect Lives Tunis: The Government of Tunisia is collaborating with the count...

16/01/2020

All-star line up announced for The BRIT Awards 2020 with Mastercard

All-star line up announced for The BRIT Awards 2020 with Mastercard The BRIT Awards 2020 will be live on ITV Tuesday 18th February at The O2 Arena in London T...

16/01/2020

Operation Transformation Leaders encourage the nation to get moving this Saturday

This Saturday (January 18) will see thousands of people across Ireland take part...

16/01/2020

RT and Irish Aid Launch New Touring Exhibition, 50 Countries, 50 Stories

Produced by KMF Productions, the RT television series What in the World? has filmed in over 50 countries across the globe. To mark that milestone, as well as a...

16/01/2020

Plug-in Collective Nugen Audio

January's Plug-in Collective community giveaway is an endlessly useful bass management utility from acclaimed British developer Nugen Audio. From 16th Jan...

16/01/2020

Three-year Warranty On All Focusrite Products

We're excited to announce an extension to our standard warranty, which comes with all new Focusrite products. The three-year warranty is effective on purcha...

16/01/2020

SGL Carbon inaugurates new production hall for graphite-based automotive components at the Bonn site

Over the past three years, SGL Carbon has invested a total of around 25 million ...

16/01/2020

A Norwegian twist

Colourist Dylan R Hopkin describes creating a palette for BBC Four crime drama, Wisting Contributor 2 hours ago Colourist Dylan R Hopkin describes creati...

16/01/2020

Taking control of your OTT content delivery

By Kalle Henriksson, research and innovation, founder, Edgeware Contributor 2 hours ago By Kalle Henriksson, research and innovation, founder, Edgeware ...

16/01/2020

RTMP vs SRT: a matter of protocol

Download the RTMP vs. SRT: Comparing Latency and Maximum Bandwidth white paper from Haivision Contributor 32 mins ago Download the RTMP vs. SRT: Comparin...

16/01/2020

NewTek appoints Barbara...

Barbara Spicek, senior vice president, global sales, NewTek NewTek has appointed Barbara Spicek as senior vice president of global sales as part of the company...

16/01/2020

Harman Professional...

Brian Divine, president of the professional solutions division, Harman Professional Solutions Brian Divine has been appointed to the role of president of the P...

16/01/2020

Inavate to moderate UN conference room...

Room XIX: Inavation Awards finalist at the United Nations Palais des Nations, Geneva, Switzerland. Inavate will moderate a live webinar panel on the Inavation...

16/01/2020

Smart contact lens displays AR information without a screen

The Mojo Lens allows users to see information even when their eyes are closed. Having access to a world of information at the palm of your hand has revolutioni...

16/01/2020

ED TISCHLER TO HEAD UP GRAVITY MEDIA'S UK BUSINESS

ED TISCHLER TO HEAD UP GRAVITY MEDIA'S UK BUSINESS posted: 16/01/2020 Layla Cook also promoted to UK Broadcast Equipment Rental Manager Gravity Media...

16/01/2020

Western Kenya's Simba Radio Roars With Lawo

Western Kenya's Simba Radio Roars With Lawo posted: 16/01/2020 Mulembe is not only the guiding principle of the Luhya communities of Western Kenya...

16/01/2020

IHSE Draco MultiView4K60 facilitates video surveillance

IHSE Draco MultiView4K60 facilitates video surveillance posted: 16/01/2020 IHSE, a leading manufacturer of high-end KVM solutions for the extension and th...

16/01/2020

Arqiva assists LaLigaTV HD's Sky launch

Provides uplinking and satellite capacity Dan Meier 3 hours ago Provides uplinking and satellite capacity target=_blank title=Share on LinkedIn class=s...

16/01/2020

Gravity Media appoints acting MD for the UK

Also promotes UK broadcast equipment rental manager Dan Meier 4 hours ago Also promotes UK broadcast equipment rental manager target=_blank title=Share...

16/01/2020

BBC plans new tech hub in Newcastle

Aims to deliver a new generation of software engineers, product developers and data scientists Jenny Priestley 3 hours ago Aims to deliver a new generati...

16/01/2020

Sohonet acquires IT service company Exchange

Will serve the production industry across features, episodic and advertising Dan Meier 3 hours ago Will serve the production industry across features, ep...

16/01/2020

Korg announce final NAMM launches

Mixers and a range of coloured full-size MS20s complete diverse range of new products Just as NAMM 2020 was getting ready to open its doors, Korg completed th...

16/01/2020

Analogue Solutions unveil new Vostok 2020

Latest version of the patchable semi-modular announced The latest version of Analogue Solutions Vostok synth-in-a-suitcase: Vostok 2020. Not long after creat...

16/01/2020

Buzz Audio debut versatile new dual-channel EQ

Zodiak features Tilt EQ, low- and high-cut and parametric mid-range filters Buzz Audios new EQ, the Zodiak. The Zodiak is a two-channel EQ featuring a Til...

16/01/2020

Roland rock on in Anaheim

Focus is on guitars and drums at NAMM Rolands new Acoustic Design V-Drums, which eschew the electronic pad look of previous V-Drums in favour of aesthetics mo...

16/01/2020

Get professional backing vocals from EastWest

These virtual Hollywood Backup Singers can sing what you type... East West/Quantum Leaps Hollywood Backup Singers. EastWest's latest library/instrument c...

16/01/2020

Audient debut affordable Evo interfaces

New brand aims to woo beginners in the recording market on price and ease of use Audients new entry-level brand Evo debuts at NAMM 2020 with the launch of two...

16/01/2020

Sainz regains control on stage 10 as Dakar Rally battle heats up

Sainz regains control on stage 10 as Dakar Rally battle heats up posted: 15/01/2020 Al-Attiyah and Peterhansel lose over 10 minutes to the Spanish car legen...