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Highlights

  • Adobe Inc. posted a 12% year-over-year growth in its top-line business to USD 5.05 billion in Q4 FY23.
  • The firm had a GAAP operating income of USD 1.74 billion for Q4, while its non-GAAP operating income stood at USD 2.34 billion.
  • For FY23, ADBE hit a record revenue of USD 19.41 billion, with a 10% YoY increase on pcp. 

Global technology company, Adobe Inc. (NASDAQ: ADBE) offers products, services, and solutions to create, manage, measure, optimize and engage with content across surfaces and fuel digital experiences. Its operations cover diverse segments, such as digital media, publishing and advertising.

For Q4 FY23, ADBE posted a 12% year-over-year growth in its top-line business to USD 5.05 billion. It secured diluted earnings per share of USD 3.23, on a GAAP basis. It was recorded at USD 4.27, on a non-GAAP basis.

The company had a GAAP operating income of USD 1.74 billion for the quarter, while its non-GAAP operating income stood at USD 2.34 billion. Its cash flow from operations was registered at USD 1.60 billion. It reported Remaining Performance Obligations (RPO) of USD 17.22 billion at the end of Q4.

For FY23, ADBE hit a record revenue of USD 19.41 billion, with a 10% YoY increase on pcp. Its diluted earnings per share stood at USD 11.82 on a GAAP basis.

The company is targeting a revenue of USD 21.30 billion to USD 21.50 billion for the fiscal year 2024. Its net new ARR for Digital Media is likely to be around USD 1.90 billion. The company is expecting to achieve earnings per share of USD 13.45 to USD 13.85 for GAAP and USD 17.60 to USD 18.00 for non-GAAP.

From the year 2019 to 2023, Adobe Inc. (ADBE) has witnessed its top-line business grow from USD 11.17 billion to USD 19.41 billion. Its gross profit has grown to USD 17.06 billion from USD 9.5 billion over the same period. Adobe posted a net margin of about 28.0% in 2023, beating the industry median of -6.4%.

Top 10 shareholders:

Around 30.27% of the total shareholding is held by its top ten shareholders. The Vanguard Group, Inc. is the biggest shareholder in the company, with approximately 8.85% shareholding, while BlackRock Institutional Trust Company, N.A. is the second biggest shareholder with 5.37% stake in the firm.

 Stock Price Performance:

ADBE’s stock price has gained 10.36% in the past three months. It has increased by more than 70.18% in the past one year. The stock’s 52-week high and low price stand at USD 638.25 and USD 323.29, respectively.

   

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is March 11, 2024. The reference data in this report has been partly sourced from EODHD/Others.