Adobe Reports Record Revenue in Q3 Fiscal 2023

Adobe (Nasdaq:ADBE) today reported financial results for its third quarter fiscal year 2023 ended Sept. 1, 2023.

“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio,” said Shantanu Narayen, chair and CEO, Adobe. “The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users.”

“Adobe delivered world-class margins and earnings in Q3, while making significant investments in our technology platforms,” said Dan Durn, executive vice president and CFO, Adobe. “Our innovation engine, global reach and strong operational rigor position us to capture the massive opportunities ahead.”

Third Quarter Fiscal Year 2023 Financial Highlights
*Adobe achieved revenue of $4.89 billion in its third quarter of fiscal year 2023, which represents 10 percent year-over-year growth or 13 percent in constant currency. Diluted earnings per share was $3.05 on a GAAP basis and $4.09 on a non-GAAP basis.
*GAAP operating income in the third quarter was $1.70 billion and non-GAAP operating income was $2.26 billion. GAAP net income was $1.40 billion and non-GAAP net income was $1.88 billion.
*Cash flows from operations were $1.87 billion.
*Remaining Performance Obligations (“RPO”) exiting the quarter were $15.72 billion.
*Adobe repurchased approximately 2.1 million shares during the quarter.
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