On September 12, 2024, Adobe Inc. announced its financial results for the third quarter of the fiscal year 2024, which ended on August 30, 2024. The company reported record revenue of $5.41 billion, marking an 11 percent year-over-year growth. Adobe's GAAP operating income reached $1.99 billion, with non-GAAP operating income at $2.52 billion. GAAP net income stood at $1.68 billion, while non-GAAP net income was $2.08 billion. The company also reported significant cash flows from operations amounting to $2.02 billion and a Remaining Performance Obligations (RPO) exiting the quarter of $18.14 billion. Adobe repurchased approximately 5.2 million shares during the quarter. The Digital Media segment saw an 11 percent year-over-year growth, with Document Cloud revenue at $807 million and Creative revenue at $3.19 billion. Adobe's Digital Experience segment revenue...Show More

On September 12, 2024, Adobe Inc. announced its financial results for the third quarter of the fiscal year 2024, which ended on August 30, 2024. The company reported record revenue of $5.41 billion, marking an 11 percent year-over-year growth. Adobe's GAAP operating income reached $1.99 billion, with non-GAAP operating income at $2.52 billion. GAAP net income stood at $1.68 billion, while non-GAAP net income was $2.08 billion. The company also reported significant cash flows from operations amounting to $2.02 billion and a Remaining Performance Obligations (RPO) exiting the quarter of $18.14 billion. Adobe repurchased approximately 5.2 million shares during the quarter. The Digital Media segment saw an 11 percent year-over-year growth, with Document Cloud revenue at $807 million and Creative revenue at $3.19 billion. Adobe's Digital Experience segment revenue was $1.35 billion, a 10 percent year-over-year growth. The company provided fourth-quarter fiscal year 2024 targets, including total revenue of $5.50 billion to $5.55 billion and Digital Media net new ARR of approximately $550 million. Adobe's CEO, Shantanu Narayen, attributed the strong performance to innovation and the company's AI advancements across its product suites. CFO Dan Durn expressed confidence in Adobe's growth and industry leadership. The company's financial results included non-GAAP measures, which exclude items such as stock-based compensation, amortization of intangibles, and acquisition-related expenses, among others.