Adobe (San Jose, California) has reported its financial results for its second quarter fiscal year 2020 ending on May 29, 2020. Here are some of highlights
- Adobe achieved record quarterly revenue of $3.13 billion (USD) in its second quarter of fiscal year 2020, which represented 14% year-over-year growth.
- Digital Media segment revenue was $2.23 billion, which represented 18% year-over-year growth. Creative revenue grew to $1.87 billion and Document Cloud revenue was $360 million. Digital Media Annualized Recurring Revenue (ARR) grew to $9.17 billion exiting the quarter, a quarter-over-quarter increase of $443 million. Creative ARR grew to $7.93 billion, and Document Cloud ARR grew to $1.24 billion.
- Digital Experience segment revenue was $826 million, representing a 5% year-over-year growth. Digital Experience subscription revenue was $707 million, representing an 8% year-over-year growth. Digital Experience subscription revenue, excluding Advertising Cloud revenue, grew 18% year-over-year.
- GAAP operating income in the second quarter was $1.02 billion, and non-GAAP operating income was $1.34 billion. GAAP net income was $1.10 billion, and non-GAAP net income was $1.19 billion.
- Cash flows from operations was $1.18 billion.
- Remaining performance obligation exiting the quarter was $9.92 billion.
- Adobe repurchased approximately 2.6 million shares during the quarter.
“Adobe’s strategy to empower customers to create the world’s content, automate critical document processes, and enable enterprises to engage with their customers digitally, drove record revenue in our second quarter,” said Shantanu Narayen, President and CEO of Adobe. “The tectonic shift towards ‘all things digital’ across all customer segments globally, will serve as a tailwind to our growth initiatives as we emerge from this crisis.”