Its Digital Media segment contributed to 73% of total revenue or $3.4 billion and increased by a solid 14% YoY on a constant currency basis, while $307 million in net new ARR was added in the quarter to reach a solid $13.67 billion. Its revenue was $4.66 billion, which beat analyst estimates by $30.2 million and increased by a solid 9.22% year over year or 13% on a constant currency basis. Let's dive in.ĭata by YCharts Solid Financials and LeadershipĪdobe reported solid financials for the first quarter of the fiscal year 2023. In this post, I'm going to break down its financials and growth trends, before revealing my valuation model and forecasts for the company. So far, Adobe has been executing well and the company reported strong results for Q1,FY23, beating both top and bottom-line growth estimates. I believe the company is now at the intersection of various growth trends from the rise of the creator economy to "big data", digital signatures, and even digital customer journeys. However, Adobe is not just a one-trick pony, the company is highly diversified and has gradually expanded its product range through acquisitions and development. The business created the PDF file format back in 1993 and has since become an industry-renowned leader in its creative products namely photoshop, premiere pro, etc. I going to make a greatest artwork as I can, by my head, my hand and by my mind.Īdobe ( NASDAQ: ADBE) is one of the world's most highly regarded technology companies.
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