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May 31, 2024
Adobe Q2 2024 Earnings Report
Adobe achieved record revenue driven by strong growth across Creative Cloud, Document Cloud and Experience Cloud.
Key Takeaways
Adobe reported record revenue of $5.31 billion in Q2 fiscal year 2024, representing a 10% year-over-year growth. The company's success was driven by strong growth across Creative Cloud, Document Cloud, and Experience Cloud. Adobe raised its annual targets for Digital Media net new ARR, Digital Experience subscription revenue, and EPS.
Adobe achieved record revenue of $5.31 billion, a 10% year-over-year increase.
GAAP diluted earnings per share was $3.49, and non-GAAP diluted earnings per share was $4.48.
Digital Media segment revenue was $3.91 billion, up 11% year-over-year.
Digital Experience segment revenue was $1.33 billion, up 9% year-over-year.
Adobe
Adobe
Adobe Revenue by Segment
Revenue by Segment
Digital Media Revenue
CapyFin.comDigital Experience Revenue
CapyFin.com Forward Guidance
Adobe is providing third quarter targets and updated fiscal year 2024 targets, factoring in current expectations for the macroeconomic environment and FX outlook.
Positive Outlook
- Total revenue is expected to be between $5.33 billion and $5.38 billion.
- Digital Media net new ARR is expected to be approximately $460 million.
- Digital Media segment revenue is projected to be between $3.95 billion and $3.98 billion.
- Digital Experience segment revenue is anticipated to be between $1.325 billion and $1.345 billion.
- Non-GAAP earnings per share are projected to be between $4.50 and $4.55.
Revenue & Expenses
Visualization of income flow from segment revenue to net income