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Sep 01, 2023
Adobe Q3 2023 Earnings Report
Adobe's Q3 fiscal year 2023 results were released, demonstrating record revenue and EPS growth.
Key Takeaways
Adobe achieved record revenue of $4.89 billion in Q3 fiscal year 2023, representing 10% year-over-year growth. The company's EPS grew by over 20% year-over-year, with GAAP EPS at $3.05 and non-GAAP EPS at $4.09.
Adobe achieved record Q3 net new Digital Media ARR of $464 million.
The company delivered EPS growth exceeding 20 percent year over year.
Total revenue reached $4.89 billion, a 10% year-over-year increase.
GAAP operating income was $1.70 billion, and GAAP net income was $1.40 billion.
Adobe
Adobe
Adobe Revenue by Segment
Forward Guidance
Adobe provided fourth quarter targets that factor in current macroeconomic conditions and typical year-end seasonal strength.
Positive Outlook
- Total revenue is expected to be between $4.975 billion and $5.025 billion.
- Digital Media net new ARR is expected to be approximately $520 million.
- Digital Media segment revenue is projected to be between $3.67 billion and $3.70 billion.
- Digital Experience segment revenue is anticipated to be between $1.25 billion and $1.27 billion.
- Non-GAAP EPS is expected to be between $4.10 and $4.15.
Revenue & Expenses
Visualization of income flow from segment revenue to net income