ADBE
Adobe Inc
Q4 2024 Report
Adobe Inc (ADBE) Q4 2024 Financial Results: Sustained Growth Amidst AI Innovations...
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Executive Summary
Adobe Inc (ADBE) reported robust financial results for Q1 2024, achieving revenue of $5.18 billion, marking a 12% year-over-year increase. The company demonstrated significant gains across its Digital Media, Document Cloud, and Experience Cloud segments, reflecting the essential role Adobe products play in the digital economy. Management emphasized the strong demand for AI-powered solutions, particularly the integration of generative AI in products like Creative Cloud and Acrobat. Despite a one-time charge from the Figma transaction impacting GAAP EPS, the underlying financial strength suggests a positive trajectory moving into Q2 and beyond.
Key Performance Indicators
Revenue
5.18B
QoQ: 2.65% | YoY:5.97%
Gross Profit
4.55B
87.80% margin
QoQ: 3.08% | YoY:5.57%
Operating Income
1.91B
QoQ: 9.41% | YoY:12.37%
Net Income
620.00M
QoQ: -58.19% | YoY:-55.81%
EPS
1.37
QoQ: -57.98% | YoY:-55.37%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: $5.18 billion, up 12% YoY
- **Gross Profit**: $4.55 billion, with a gross margin of 87.8%.
- **Operating Income**: $1.91 billion, 36.8% operating margin.
- **Net Income**: $620 million, resulting in a GAAP EPS of $1.36 and a non-GAAP EPS of $4.48, an 18% YoY increase (without the one-off Figma payment effect, EPS would be significantly higher).
- **Digital Media Revenue**: $3.82 billion, growing 12% YoY, with a net new ARR of $432 million.