Adobe Q3 Earnings Report

$Adobe (ADBE.US)$ Revenue hits $5.41B (+11% YoY), GAAP EPS $3.76, Non-GAAP EPS $4.65. Record $504M net new ARR.

👉 Business Highlights:

➡️ Adobe achieved $5.41B in revenue for Q3 FY2024, growing 11% YoY.

➡️ GAAP EPS was $3.76 and Non-GAAP EPS was $4.65.

➡️ Net income for the quarter was $1.68B.

➡️ Adobe's Digital Media segment revenue was $4.00B, growing 11% YoY.

➡️ Document Cloud revenue hit $807M, with 18% YoY growth.

➡️ Adobe’s Digital Experience revenue was $1.35B, increasing 10% YoY.

➡️ Adobe generated $2.02B in cash flows from operations.

➡️ Net new Digital Media ARR was $504M, exiting Q3 with $16.76B in ARR.

➡️ Adobe repurchased 5.2 million shares during the quarter.

➡️ Exiting RPO reached $18.14B, growing 15% YoY.

👉 CEO Statement:

“Adobe's record Q3 performance is a testament to our relentless innovation and commitment to delivering value to our customers,” said Shantanu Narayen, chair and CEO, Adobe. “With groundbreaking advancements in AI across Creative Cloud, Document Cloud, and Experience Cloud, we are empowering millions of users worldwide.”