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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
09/10/2026
nxtedition will exhibit for the first time at Asias Broadcasting & Infotainment Show (A.B.I.S) in Mumbai, bringing its integrated production platform and latest...
09/10/2026
Today's AI Isn't the Answer
Andy Marken October 8, 2026
0 Comments
Let's say you're telling the truth, and this is all a dream. - Do...
09/10/2026
Ikegami to Introduce New UHK-X700VN Camera at NAB New York, Offering Advanced Cr...
09/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
09/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
09/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
09/10/2026
Witness world firsts, new arrivals and the work that goes on behind the scenes a...
09/10/2026
September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026
New Sports Intelligence helps providers better unders...
08/10/2026
Modern venues have come a long way since the tinny, echoing audio of the mid 20t...
08/10/2026
ESPN's first Super Bowl production will stream in English and Spanish on Disney+, while the ESPN App carries the full slate of game, ManningCast, studio, an...
08/10/2026
From high-school videoboards to War Eagle Productions, the Opelika native is learning how to lead shows and capture big moments
The future of live sports produ...
08/10/2026
The Television Academy and Prime Video have announced a six-year agreement making Prime Video the exclusive global home of the Emmy Awards beginning with the 20...
08/10/2026
Techex will exhibit at NAB Show New York 2026 (Booth 623, Javits Center, October...
08/10/2026
X Games has announced the appointment of Steve Rogers as Chief Operating Officer. Rogers previously served as COO of World Supercross and spent nearly a decade ...
08/10/2026
Fonn Group has appointed Trevor Spielmann as Sales Director for Germany, Austria, and Switzerland. Spielmann joins from EVS, where he held sales and business de...
08/10/2026
The flagship program will originate from major PG events with a four-camera production, live distribution across PGTV, social platforms
Perfect Game is bringin...
08/10/2026
Innovation rarely happens in a vacuum. More often, it happens at the point of collision: when worlds that have run on separate tracks begin to converge. That is...
08/10/2026
For decades, the production and broadcast services business has run on a familia...
08/10/2026
Uplynk, Zixi, BroadView Software, and Grass Valley have published The IP Converg...
08/10/2026
The NFL has announced the return of the Big Data Bowl, the league's analytics competition, now in its ninth year and again powered by AWS. Registration is o...
08/10/2026
Eutelsat has renewed its partnership with T l diffusion d'Alg rie (TDA), Algeria's national broadcasting network operator, for continued distribution of...
08/10/2026
Disney will livestream Super Bowl LXI on February 14, 2027, alongside the game's broadcast on ESPN and ABC. All Disney subscribers in the United States wi...
08/10/2026
RHStv and Red House Streaming have announced an expansion of their partnership w...
08/10/2026
Gray Media has announced a distribution agreement with TEGNA and DAZN to simulca...
08/10/2026
SVG readers can save 10% on registration and receive a complimentary Solutions H...
08/10/2026
PROTON Camera Innovations GmbH has been named a recipient of a 2026 Technology a...
08/10/2026
Industry leaders discuss real-world cloud workflows for live game production, pl...
08/10/2026
The next-gen audio technology joins Dolby Vision as part of Apple TV's immersive F1 experience...
08/10/2026
David France, Jesse Short Bull, Mato Wayuhi, N. Bird Runningwater, Jodi Archambau, Jhane Myers, Paul McGuire, Amber Morning Star Byars, Holly Macarro, Nick Tils...
08/10/2026
Dynamic panning plug-ins get an upgrade
Sound Particles have just announced major updates for two of their popular dynamic panning plug-ins. Energy Panner 2...
08/10/2026
New expandable instrument boasts full DMNO engine
UDO Audio have just announced the upcoming release of a new, expandable synth that packs the power of the ...
08/10/2026
Two new subwoofers added to monitoring line-up
ADAM Audio's monitoring range has just been expanded with two new DSP-equipped subwoofers, the Sub8 PRO a...
08/10/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
08/10/2026
Calrec gives broadcasters freedom of choice at NAB Show New York We're looking forward to meeting up with you all at NAB New York on 21st-22nd October.
Cal...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Globecast, a leading provider of broadcast, media and entertainment managed services, will showcase its next generation of media orchestration services at NAB S...
08/10/2026
Clear-Com played a critical role in the production communications infrastructure for Rock in Rio 2026, one of the world's largest and most recognized music...
08/10/2026
Sohonet Launches ClearView Rush: A Leap Forward in Studio Review, Built for Crea...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/10/2026
Ikegami announces a major expansion to its range of broadcast-quality live production cameras. Scheduled for introduction on Ikegami booth 708 at NAB New York, ...
SAN JOSE, Calif.--(BUSINESS WIRE)--Adobe (Nasdaq:ADBE) today reported financial results for its fourth quarter and fiscal year 2019 ended Nov. 29, 2019. 
