Adobe surpasses $11 billion in annual revenue for its 2019 fiscal year

Shantanu Narayen.

In the fourth quarter of its fiscal year 2019, Adobe (San Jose, California) achieved a company record quarterly revenue of $2.99 billion (USD), which represents 21% year-over-year growth. In its fiscal year 2019, Adobe also achieved a record annual revenue of $11.17 billion, which represents 24% year-over-year growth. “Adobe’s phenomenal performance in Q4 capped a record fiscal 2019 with revenue exceeding $11 billion,” said Shantanu Narayen, Adobe President and CEO. “Adobe’s vision, category leadership, continuous product innovation and large and loyal customer base, position us well for 2020 and beyond.”

Below are financial highlights from the company’s fiscal year 2019:

  • Adobe achieved record annual revenue of $11.17 billion in fiscal year 2019, representing 24% year-over-year growth.
  • The company reported annual GAAP diluted earnings per share of $6 and non-GAAP diluted earnings per share of $7.87.
  • Digital Media segment revenue was $7.71 billion, with Creative and Document Cloud achieving record annual revenue of $6.48 billion and $1.22 billion, respectively. Digital Media ARR grew by $1.69 billion during the year.
  • Digital Experience segment revenue was $3.21 billion, representing 31% year-over-year growth, and subscription bookings grew by more than 20% during the year.
  • Operating income grew 15% and net income grew 14% year-over-year on a GAAP-basis.
  • Operating income grew by 23% and net income grew 15% year-over-year on a non-GAAP basis.
  • Adobe generated a record $4.42 billion in operating cash flow during the year.
  • The company re-purchased 9.9 million shares during the year, returning $2.7 billion of cash to its stockholders.

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Tony Curcio is the editor of Graphic Arts Magazine.