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Adobe (ADBE) Reports Q3 Earnings: What Key Metrics Have to Say
ADBEAdobe(ADBE) ZACKS·2024-09-12 23:01

Financial Performance - Adobe reported 5.41billioninrevenueforthequarterendedAugust2024,a10.65.41 billion in revenue for the quarter ended August 2024, a 10.6% year-over-year increase [1] - EPS for the quarter was 4.65, compared to 4.09ayearago[1]−RevenuesurpassedtheZacksConsensusEstimateof4.09 a year ago [1] - Revenue surpassed the Zacks Consensus Estimate of 5.37 billion by 0.79% [1] - EPS exceeded the consensus estimate of 4.53by2.654.53 by 2.65% [1] Business Unit Metrics - Digital Media - Creative ARR (Annualized Recurring) was 13.45 billion, slightly below the five-analyst average estimate of 13.46billion[2]−DigitalMedia−TotalDigitalMediaARR(Annual)was13.46 billion [2] - Digital Media - Total Digital Media ARR (Annual) was 16.76 billion, compared to the 16.71billionaverageestimate[2]−DigitalMedia−DocumentServicesARR(Annual)was16.71 billion average estimate [2] - Digital Media - Document Services ARR (Annual) was 3.31 billion, exceeding the four-analyst average estimate of 3.25billion[2]RevenueBreakdown−DigitalMediarevenuewas3.25 billion [2] Revenue Breakdown - Digital Media revenue was 4 billion, a 11.2% year-over-year increase, slightly above the 3.97billionaverageestimate[2]−PublishingandAdvertisingrevenuewas3.97 billion average estimate [2] - Publishing and Advertising revenue was 59 million, a 11.9% year-over-year decrease, below the 60.35millionaverageestimate[2]−DigitalExperiencerevenuewas60.35 million average estimate [2] - Digital Experience revenue was 1.35 billion, a 10.2% year-over-year increase, slightly above the 1.34billionaverageestimate[2]−DigitalMedia−CreativeCloudrevenuewas1.34 billion average estimate [2] - Digital Media - Creative Cloud revenue was 3.19 billion, a 9.6% year-over-year increase, slightly above the 3.18billionestimate[2]−DigitalMedia−DocumentCloudrevenuewas3.18 billion estimate [2] - Digital Media - Document Cloud revenue was 807 million, a 17.8% year-over-year increase, exceeding the 790.70millionestimate[2]−Servicesandotherrevenuewas790.70 million estimate [2] - Services and other revenue was 146 million, a 10.4% year-over-year decrease, below the 163.69millionestimate[2]−Productsrevenuewas163.69 million estimate [2] - Products revenue was 82 million, a 14.6% year-over-year decrease, below the 111.98millionestimate[2]−DigitalExperienceSubscriptionRevenuewas111.98 million estimate [2] - Digital Experience Subscription Revenue was 1.23 billion, a 12.3% year-over-year increase, slightly above the 1.21billionestimate[2]−NetRevenue−Subscriptionwas1.21 billion estimate [2] - Net Revenue - Subscription was 5.18 billion, a 11.9% year-over-year increase, exceeding the $5.09 billion estimate [2] Stock Performance - Adobe shares returned +7.5% over the past month, outperforming the Zacks S&P 500 composite's +4% change [3] - The stock currently has a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]