Record Fourth Quarter Contributes to 24 Percent Year-Over-Year Annual Growth
Adobe on Friday reported financial results for its fourth quarter and fiscal year 2019 ended Nov. 29, 2019.
“Adobe’s phenomenal performance in Q4 capped a record fiscal 2019 with revenue exceeding $11 billion. Adobe’s vision, category leadership, continuous product innovation and large and loyal customer base position us well for 2020 and beyond,” said Shantanu Narayen, President and CEO, Adobe.
“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,” he said.
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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.
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.
Adobe, a US-based company focuses on the creation of multimedia and creativity software products.
Read More: Adobe Surpasses $11 Billion in Annual Revenue
