In fiscal year 2019, Adobe achieved record annual revenue of $11.17 billion, which represents 24 per cent year-over-year growth.
Shares in the software company, which released its fourth quarter and full year results overnight, were up 3 per cent after beating Wall Street’s expections.
In its fourth quarter of fiscal year 2019, Adobe achieved record quarterly revenue of $2.99 billion, which represents 21 per cent year-over-year growth.
“Adobe’s phenomenal performance in Q4 capped a record fiscal 2019 with revenue exceeding $11 billion,” said Shantanu Narayen, president and CEO, Adobe.
“Adobe’s vision, category leadership, continuous product innovation and large and loyal customer base position us well for 2020 and beyond.”
For the full fiscal year, Digital Experience segment revenue was $3.21 billion, representing 31 per cent year-over-year growth, and subscription bookings grew by more than 20 per cent during the year.
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.
Operating income grew 15 per cent and net income grew 14 per cent year-over-year on a GAAP-basis; operating income grew 23 per cent and net income grew 15 per cent year-over-year on a non-GAAP basis.