It achieved a record quarterly revenue of US$3.09 billion in its first quarter of fiscal year 2020
Adobe has released record first-quarter 2020 results, but does expect to be impacted by COVID-19 in its upcoming quarter.
It achieved a record quarterly revenue of US$3.09 billion in its first quarter of fiscal year 2020, representing 19 per cent year-over-year growth. Digital media segment revenue was US$2.17 billion, 22 per cent year-over-year growth, while creative revenue grew to US$1.82 billion and Document Cloud revenue was US$351 million.
Digital Media Annualized Recurring Revenue (ARR) grew to US$8.73 billion exiting the quarter, a quarter-over-quarter increase of US$400 million. Creative ARR grew to US$7.58 billion, and Document Cloud ARR grew to US$1.15 billion.
However, the current global health crisis is affecting some earnings. Diluted earnings per share was US$1.96 on a GAAP basis, and $2.27 on a non-GAAP basis. Adobe’s earnings per share results factor an expense charge related to the cancellation of corporate events including Adobe Summit due to COVID-19, which impacted both GAAP and non-GAAP earnings per share by $0.07 in the quarter.
"We delivered a record Q1 and our first $3 billion quarter," Adobe president and CEO, Shantanu Narayen, said. “Our strategy in light of the COVID-19 situation has been to ensure the well-being of our employees, serve our customers and focus on our long-term opportunity.”
Adobe expected its second quarter will be impacted, despite it being a subscription-based business, due to enterprises deferring bookings decisions, delaying consulting services implementations and reducing marketing spend; consumers reducing spending in countries more adversely impacted by the COVID-19 situation; and software license revenue driven by channel partners.
"Adobe delivered strong revenue, earnings and cash flow in our first quarter," Adobe executive vice-president and CFO, John Murphy, said. "Our recurring revenue model and the real-time visibility we have into our business uniquely positions Adobe to manage through an uncertain environment."
Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page, or join us on Facebook: https://www.facebook.com/CMOAustralia.
Our latest CMO 2022 readiness episode on the great resignation and staff motivation and leadership is now live!
Companies encounter a variety of challenges when it comes to marketing overseas. Marketing departments often don’t know much about the business and cultural context of the international audiences they are trying to reach. Sometimes they are also unsure about what kind of marketing they should be doing.
Using data is a hot topic right now. Leaders are realising data can no longer just be the responsibility of dedicated analysts or staff with ‘data’ in their title or role description.
It’s not that your agencies don’t have your best interests at heart – most of them do. But the only way to ensure they’re 100 per cent focused on your business and not growing theirs by scope creep is by setting the guard rails for healthy agency collaboration.
Focus on your customer experience not your NPS score. Fix the fucking problems and the customer support requests will go away.I currently...
Chris B
Bringing community thinking to Optus' customer service team
Nice blog!Blog is really informative , valuable.keep updating us with such amazing blogs.influencer agency in Melbourne
Rajat Kumar
Why flipping Status Quo Bias is the key to B2B marketing success
good this information are very helpful for millions of peoples customer loyalty Consultant is an important part of every business.
Tom Devid
Report: 4 ways to generate customer loyalty
Great post, thanks for sharing such a informative content.
CodeWare Limited
APAC software company brings on first VP of growth
This article highlights Gartner’s latest digital experience platforms report and how they are influencing content operations ecosystems. ...
vikram Roy
Gartner 2022 Digital Experience Platforms reveals leading vendor players