Posted on Monday, Dec 16th 2019
Adobe last week reported a strong fourth quarter that beat estimates. Its annual revenue crossed the milestone of $10 billion. It recently upgraded its product portfolio and its Digital Experience platform that have helped it build momentum for 2020.
Adobe’s Financials Adobe’s fourth quarter revenues grew 21% over the year to a record $2.99 billion, ahead of the market’s estimates of $2.97 billion. Adjusted EPS of $2.29 also beat analyst estimates of $2.26.
segment, revenues from the Digital Media segment grew 22% to $2.08 billion with
Creative revenue growing 20% to $1.74 billion and Document Cloud growing 30.8%
to $339 million. The Digital Experience segment reported a growth of 24% over
the year to $859 million driven by the contribution from the $4.75 billion Marketo
acquisition last year.
Digital Media Annualized Recurring
Revenue (ARR) grew to $8.40 billion exiting the quarter, a quarter-over-quarter
increase of $539 million. Creative ARR grew to $7.31 billion, and Document
Cloud ARR grew to $1.09 billion.
Adobe ended the year with a
record annual revenue of $11.17 billion, up 24% and non GAAP EPS was $7.87. Digital
Media segment revenue was $7.71 billion, with Creative and Document Cloud at
$6.48 billion and $1.22 billion, respectively. Digital Experience segment
revenue grew 31% to $3.21 billion, and subscription bookings grew by over 20%
during the year.
Adobe expects to end the first
quarter with revenues of $3.04 billion with non GAAP EPS of $2.23. The market
was looking for revenues of $3.09 billion with an EPS of $2.23.
For the year 2020, Adobe expects revenues
of $13.15 billion and non GAAP EPS of $9.75. Revenue from Digital Media is
expected to grow 19% and Digital Experience is expected to grow 16%, and
Digital Experience subscription is expected to grow 18%.
During the quarter, Adobe extended its
Digital Experience product portfolio to target mid-market and SMB businesses. The new products include:
Magento Commerce with cloud-based
omnichannel solutions to empower merchants to integrate digital and physical
Marketo Engage, part of Adobe Marketing Cloud, which
enables marketers to target and nurture individual leads or accounts at scale
and measure business impact across all customer touchpoints;
Adobe Analytics Foundation to
empower disrupting brands to build and improve the customer experience with
deep data insights;
Adobe Sign with e-signature
capabilities tailored to the needs of small business users; and
Creative Cloud for Teams that
offers simple license management, robust data security, technical support, and
At the Adobe MAX conference held
last month, Adobe announced the next generation of Creative Cloud
that include features powered by Adobe Sensei, its AI and ML layer. It also
introduced Adobe Aero, a new authoring tool for creating in augmented reality.
The company officially launched Adobe Photoshop on iPad and extended Adobe
Fresco to Microsoft Surface, while also previewing the highly anticipated Adobe
Illustrator on iPad and the all-new Photoshop Camera.
Last month, Adobe announced new
innovations to its Adobe Experience Platform that address the challenges of personalization at scale: uniting fragmented
data, eliminating inconsistency in the customer experience, and meeting
governance demands. Innovations include industry-first data governance
capabilities, general availability of Adobe’s Real-time Customer Data Platform
(CDP) service, as well as new ways to personalize and deliver impactful
experiences through customer journey orchestration and Photoshop-inspired
analytics where Adobe Sensei can be added to automate
complex or deep analyses.
The Adobe Experience Platform and Real-Time CDP generated strong
interest and helped win 3M, Coca-Cola, Synopsys, Tommy Bahama, and Verizon as
Its stock is currently trading at $320.58 with a market capitalization of $155.24 billion. It touched a 52-week high of $320.93 following the results. It was trading at a 52-week year low of $204.95 in December last year.
Photo Credit: midiman/Flickr.com This segment is a part in the series : Cloud Stocks . Smartsheet Acquiring Bootstrapped Startups to Drive Growth . Bootstrapped Unicorn Atlassian is Acquiring Capital Efficient Startups . Netflix Price Hike Ruffles Competition . How Will Carbon Black Differentiate? . ServiceNow Grows Through Addition of Capital-Efficient Startups . Zendesk and Freshworks Follow Different Acquisition Strategies . Tableau Grows Through Small Acquisitions . Open Platform Strategy Stands Intuit in Good Stead . Will GoDaddy Follow the PaaS Route? . Adobe Delivers Via PaaS More »» . A Look at Oracle’s 2018 M&A Activity . What Apps Will Drive More Traction for Cloudera? . Slack's App Focus Will Be Key to Post-IPO Success . IBM Counts on its Cloud and Platform for the Turnaround . Atlassian Acquires From its PaaS Marketplace . What Should SAP Acquire to Triple its Value by 2023? . Expect ServiceNow to Acquire From App Marketplace . Should Alarm.com Follow a PaaS Strategy? . 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Anaplan Expands AWS Relationship . ON24 Builds a Partner Network . RingCentral Maintains Market Share Leadership in UCaaS Through Partnerships . BigCommerce Rides on TikTok's Growth . Analysis of Veeva's Veracity Acquisition . Salesforce Slows Down M&A to Focus on Integration . Okta's Widening Losses Worry Investors, But Growth Metrics Remain Strong . Nutanix Plans to Take on VMWare . Newly Public HashiCorp Focuses on a $73B Infrastructure-as-a-Code Market . Coupa Focuses on Key Products to Restart Decelerating Performance . Smartsheet's Product Line-up Fails to Accelerate Growth . DocuSign Targets a $50 Billion Market Opportunity . Pure Storage Takes on Dell in Top Tier Storage Market . Analysis of PagerDuty's Catalytic Acquisition . Splunk Impresses with Enterprise Customer Growth . Analysis of Qualtrics's Acquisition of SurveyVitals . Analysis of DigitalOcean's Nimbella Acquisition . Squarespace Eyes Video Offerings for SMBs . MongoDB is Leveraging Alliance with Amazon for Growth . Rapid7's Cross-Sell Capabilities Deliver Results . CrowdStrike Expands Partnerships to Address Cyber Attack Fears . Upstart Focuses on the Automobile Market for Growth . Zoom Adds Contact Center Capabilities to Enhance its UCaaS Stack . Tuya Struggles Amid Macro Economic Conditions . Analysis of Fastly's Fanout Acquisition . Analysis of BlackLine's FourQ Systems Acquisition . Analysis of IBM's Neudesic Acquisition . Analysis of Snowflake's Streamlit Acquisition . Google's Acquisition of Mandiant Fuels its Cloud Strategy . Microsoft Expands its Healthcare Cloud Offerings . Amazon Battles Margin Pressures . Atlassian Faces Stiff Competition . GoDaddy Targets a $126B TAM Opportunity . Bill.com Builds Value Added Services to Expand Wallet Share . Analysis of ON24's VIBBIO Acquisition . Twilio's Growth is Driven by Segment