Adobe delivers record 2024 revenue, with 11 percent sales growth

GaryPageau
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Adobe reported financial results for its fourth quarter and fiscal year 2024 ended Nov. 29, 2024. Among the highlights:

  • FY 2024 net new digital media Annualized Recurring Revenue (“ARR”) exceeds $2.0 billion
  • FY 2024 Digital Experience revenue exceeds $5.3 billion
  • Record Q4 operating cash flows of $2.92 billion
  • Record RPO of $19.96 billion, 16 percent year-over-year growth

Adobe achieved revenue of $5.61 billion in its fourth quarter , representing 11 percent year-over-year growth as reported and in constant currency. Diluted earnings per share was $3.79 on a GAAP basis and $4.81 on a non-GAAP basis. GAAP operating income in the fourth quarter was $1.96 billion and non-GAAP operating income was $2.60 billion. GAAP net income was $1.68 billion and non-GAAP net income was $2.13 billion.

Adobe achieved revenue of $21.51 billion in fiscal year 2024, which represents 11 percent year-over-year growth as reported and in constant currency. Diluted earnings per share was $12.36 on a GAAP basis and $18.42 on a non-GAAP basis. GAAP operating income was $6.74 billion and non-GAAP operating income was $10.02 billion. GAAP net income was $5.56 billion and non-GAAP net income was $8.28 billion.

“Adobe delivered record FY24 revenue, demonstrating strong demand and the mission-critical role Creative Cloud, Document Cloud and Experience Cloud play in fueling the AI economy,” said Shantanu Narayen, chair and CEO, Adobe. “Our highly differentiated technology platforms, rapid pace of innovation, diversified go-to-market and the integration of our clouds position us for a great year ahead.”

“Adobe drove FY24 records of $21.51 billion in revenue, $8.06 billion in cash flows from operations, and $19.96 billion in RPO,” said Dan Durn, executive vice president and CFO, Adobe. “Adobe’s strategy, AI innovation, and massive cross-cloud opportunity position us well for 2025 and beyond.”