Total revenues for 2018 were $807.2 million, down 10.7% compared to 2017, or 9.3% on a comparable 52-week year basis. Total advertising revenues were $416.7 million, down 16.4% compared to 2017, or 15.3% on a comparable 52-week basis. Total digital advertising revenues were up 4.1% and digital-only advertising was up 13.5% in 2018 compared to 2017. Adjusted for the extra week in 2017, total digital advertising revenues were up 5.4% and digital-only advertising was up 14.9% over the same period. The digital-only advertising results are partially offsetting the impact of the softening print advertising declines on total digital advertising. Audience revenues were $339.5 million, down 6.6% for 2018 compared to 2017, or 4.8% on a 52-week basis. Total digital audience revenues were up 2.6% in 2018 compared to the same period 2017, or 4.6% on a comparable 52-week basis. Digital-only audience revenues associated with digital subscriptions were up 63.6% in 2018 compared to the same period last year. The company reported a net loss in 2018 of $79.8 million, or $10.27 per share, which included $37.2 million of other non-cash charges on mastheads and $20.4 million non-cash valuation allowance on deferred tax assets as well as other unusual items described below. Adjusted net loss for 2018, excluding these items, was $48.2 million. Click read more below for additional detail.
Adobe (Nasdaq:ADBE) today reported financial results for its second quarter fiscal year 2019 ended May 31, 2019.
Q2 FY2019 Financial Highlights
• Adobe achieved record quarterly revenue of $2.74 billion in its second quarter of fiscal year 2019, which represents 25 percent year-over-year growth. Diluted earnings per share was $1.29 on a GAAP-basis, and $1.83 on a non-GAAP basis.
• Digital Media segment revenue was $1.89 billion, which represents 22 percent year-over-year growth. Creative revenue grew to $1.59 billion and Document Cloud achieved revenue of $296 million. Digital Media Annualized Recurring Revenue (“ARR”) grew to $7.47 billion exiting the quarter, a quarter-over-quarter increase of $406 million. Creative ARR grew to $6.55 billion, and Document Cloud ARR grew to $921 million.
• Digital Experience segment revenue was $784 million, representing 34 percent year-over-year growth.
• GAAP operating income in the second quarter was $750 million, and non-GAAP operating income was $1.05 billion. GAAP net income was $633 million, and non-GAAP net income was $901 million.
• Cash flow from operations was $1.11 billion.
• Remaining Performance Obligation was $8.37 billion.
• Adobe repurchased approximately 2.5 million shares during the quarter.
“Adobe’s continued momentum is being fueled by the explosion of creativity across the globe and the widespread business transformation agenda to deliver engaging customer experiences,” said Shantanu Narayen, president and CEO, Adobe. “With an innovative technology platform, exciting product roadmap and strong ecosystem of partners, we are well positioned for the second half of FY19 and beyond.”
“Adobe delivered another record quarter in Q2,” said John Murphy, executive vice president and CFO, Adobe. “Highlights include 25 percent year-over-year revenue growth, strong net new Digital Media ARR and operating cash flow of $1.11 billion.”
more detail at: https://news.adobe.com/press-release/corporate/adobe-reports-record-q2-revenue