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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Splunk on the Right Track with Cloud and PaaS . Veeva Sets an Example, Transitions to a Public Benefit Corporation . BlackLine is Targeting A/R Automation Market . Okta Targets $25B Customer Identity Market with Acquisition . Teradata Trying to Reinvent Itself on the Cloud . Dropbox Acquires, But Competition Remains Stiff . Smartsheet Focuses on Partners, and not on ISVs . MongoDB has Huge Room to Grow in $97B Market . Cloud and Platform Expansion Continues at Nutanix . Rapid7 Targets $1B ARR by 2025 . DocuSign Exploring Unprecedented Digital Signature Offerings . Tenable Continues its Acquisition Spree . SolarWinds Attack Driving Zscaler's Stellar Performance . Zoom Should Report Developer Ecosystem Metrics . Dynatrace Competing with Rivals by Simplifying DevOps . Talend Becomes a Private Firm, Once Again . Everbridge Focuses on the Government Sector . Analysis of Fastly’s Signal Sciences Acquisition . Cloudera Focuses on Machine Learning for Verticals . 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Market Leader Tenable Leverages Acquisitions for Growth . Analysis of Zscaler's Recent Two Acquisitions . Analysis of Rapid7's Velocidex Acquisition . Dropbox Expands in International eSignature Market . MongoDB Rides High on Five Years of Atlas . RingCentral Leverages Partnerships for Growth . BlackLine Remains Focused on SAP . ON24 Expands Marketing Offerings . Analysis of Magnite's Spot X Acquisition . PagerDuty Focuses on Integrations . Analysis of Bill.com's Divvy Acquisition . C3.ai Doubles Down on Partnerships . Analysis of Coupa's Pana Acquisition . BigCommerce Eyes a Bigger Marketshare Through Walmart Tie-up . Analysis of Everbridge's xMatters Acquisition . Adobe's Digital Solutions Drive Stellar Growth . CrowdStrike Leads in Endpoint Security Through Tie-ups . Snowflake Focuses on Expanded Partner Program to Drive Growth . Analysis of Sumo Logic's Sensu Acquisition . Dynatrace Counts on AI to Continue its Market Leadership . Analysis of IBM's Waeg Acquisition . Tuya Focuses on Smart Product Distribution . Appian Strengthens AI Offerings . Analysis of Zoom's Five9 Acquisition . Google's Offerings Help Drive Partner Revenue Growth . ServiceNow's Entire Portfolio is Booming . How can Atlassian Amplify its Robust Growth? . Analysis of Microsoft's Three More Acquisitions After Nuance . Twilio Focuses on Customer Engagement . Analysis of Amazon's MGM Acquisition . Guidewire Focuses on Building its Partner Network . Momentive, Formerly SurveyMonkey, Adds Analytics to Offerings . Zendesk Should Look at Acquisitions . HubSpot Continues to Grow its App Marketplace . Is Alteryx Being Acquired? . Shopify Continues to Woo Developers . DigitalOcean Expands Partnership with MongoDB . Analysis of Qualys' TotalCloud Acquisition . Pure Storage Experimenting with Pricing Models . Palo Alto Networks Expands Security Capabilities . RingCentral Cashing in on the Hybrid Work Environment . Splunk Tackles Decelerating Growth with Product Upgrades . MongoDB's Atlas Capabilities Expand to the Government Sector . Analysis of Bill.com's Invoice2Go Acquisition . DocuSign Banks on Agreement Cloud . Smartsheet's Expanding Use Cases . Analysis of Salesforce's Servicetrace Acquisition . Zscaler Focuses on Federal Agencies . Coupa Launches PaaS Strategy . Analysis of BlackLine’s Kyriba Partnership . PagerDuty's Expanding Integration Portfolio . Analysis of Tenable's Accurics Acquisition . Upstart’s Improving AI Algorithm in FinTech Consumer Lending . Analysis of C3.ai's Growing Partnerships . Analysis of Veeva's Learnaboutgmp Acquisition . Analysis of Adobe's Frame.io Acquisition . Snowflake Focuses on the Financial Services Sector . CrowdStrike Expands Government Offerings . Zoom Focuses on Expanding Reseller Offerings . Dropbox Focuses on Content Creators with New Product . Analysis of Okta's atSpoke Acquisition . Sumo Logic Leverages Red Hat Marketplace . Analysis of Dynatrace's SpectX Acquisition . Tuya Prepares to Address the Chip Shortage . Analysis of Appian's Lana Labs Acquisition . Analysis of Qualtrics's $1.125B Clarabridge Acquisition . Fastly Addresses Latency Issues for Developers . Alarm.com Leverages AI for Growth . Analysis of IBM's Rego Acquisition . Analysis of Unity's Parsec Acquisition . UiPath Envisions Advanced ML Capabilities . Microsoft Teams Lags Far Behind Zoom . Analysis of ServiceNow's Gekkobrain Acquisition . Google Attempts to Gain Ground in Cloud and AI . Atlassian Expands Beyond IT Offerings . Amazon Addresses Margin Pressures Through Product Upgrades . Twilio Leverages Segment Platform for Product Expansion . Shopify Expands PaaS Integrations . Analysis of Zendesk's $4.1B Momentive Acquisition . HubSpot Becomes a Stickier Platform . Analysis of Alteryx's Acquisitions . Wix Focuses on Fitness Services Providers . Pure Storage Partners with Microsoft Azure to Address Chip Shortage Concerns . Analysis of Salesforce's LevelJump Acquisition . Qualys Expands Solutions to Address Ransomware . Veeva Eyes Data Cloud . Splunk Expands Partner Capabilities . Coupa Continues to Build on its PaaS . MongoDB Focuses on Winning Government Contracts . DocuSign Targets $50B Market Opportunity in Agreement Cloud . Smartsheet Focuses on PaaS Growth . C3.ai Expands Enterprise and Public Sector Presence . 25 Cloud Stocks to BUY in 2022 . IBM Realigns its Portfolio to Focus on AI and Hybrid Cloud . Analysis of ServiceNow's DotWalk Acquisition . Analysis of Atlassian's Percept.AI Acquisition . Should Microsoft Break Itself Up? . Google Focuses on AI Enhancements . Amazon to Test Prime Customer Stickiness . Bill.com Continues Focus on Services for the SMB Segment . Analysis of GoDaddy's Pagely Acquisition . HubSpot's PaaS Keeps Growing . Freshworks Targets IT Operations Management Market . Zendesk Rejects Private Equity Buyout Offer . Shopify Emerges as a Covid Beneficiary with Stellar Results . Wix Simplifies App Creation . 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 . Freshworks' Bots Make Customer Interactions Easier . Who Will Buy Zendesk? . Analysis of Shopify's Deliverr Acquisition . Wix Focuses on Profitability Amid Mounting Losses . Dynatrace Targets $50B Addressable Market . Analysis of Salesforce's Troop.Ai Acquisition . Analysis of Workday's VNDLY Acquisition . Nutanix Stumbles on Supply Chain Issues . Veeva Targets $13 Billion TAM . RingCentral Maintains UCaaS Leadership Through Partnerships and Innovation . Okta Bounces Back Stronger Despite Security Event . Adobe Strengthens its Creative Cloud Portfolio and Gets Ready for the Metaverse . Analysis of Zoom's Acquisition of Solvvy . Smartsheet Expands its Capabilities for Marketers . Toast Addresses Changing Restaurant Industry Dynamics . UiPath Simplifies Intelligent Automation . Informatica Focuses on Vertical Specific Offerings for Growth . Samsara Expands Farm-Focused Vertical Offerings . ForgeRock Leverages AI for Growth . Marqeta Struggles, Tries to Recover Through an API Strategy . Confluent Expands Ecosystem with Microsoft and AWS . Couchbase Focuses on Improving Efficiencies for Developers . Sprinklr's Deepening Integrations with TikTok and Amazon . Analysis of IBM's Randori Acquisition . Expensify Tests Other Services for Growth . monday.com Builds Capabilities for its App Marketplace . Snowflake Leverages the Streamlit Acquisition . Google Hones its Search Tech . Microsoft's Momentum in Commercial and Cloud Keeps it Steady . Amazon's Twin Engines of AWS and Prime Make it Resilient . Analysis of ServiceNow’s Hitch Works Acquisition . Twilio’s Strategy Post Segment Acquisition . HubSpot's Marketplace Strategy Continues to Thrive . Analysis of GoDaddy's Dan.com Acquisition . Freshworks Looks to Freshchat for Product Portfolio Expansion . Zendesk Agrees to be Bought Out . Tenable Provides Visibility into Internet-based Assets . Qualys Leverages Partner Network to Drive Go-to-Market Agenda . Bill.com Banks on its Organic Flywheel Amid Economic Turbulence . ON24 Targets $44 Billion Addressable Market . Palo Alto Network's Transformation Strategy Delivers Results . Atlassian’s Ecosystem Strategy Keeps it Steady . Okta Struggles with Auth0 Integration . Salesforce Targets Vertical Focused Offerings to Battle Economic Conditions . Workday Grows Strong Despite Recession . Nutanix's Subscription Model Delivers Results . Veeva Believes R&D Segment Will Deliver under Economic Uncertainty . RingCentral Focuses on Hardware Integration . MongoDB Addresses Economic Concerns Through Product Upgrades . Rapid7 Focuses on Simplifying View for Security Teams . Analysis of Smartsheet's Outfit Acquisition . HashiCorp Struggles to Maintain DecaCorn Valuation Amid Stock Conditions . Coupa Helps Maximize Savings Efficiency to Tackle Global Economic Conditions . DocuSign Focuses on Integrations . PagerDuty Focuses on Reducing Manual Intervention within DevOps . Pure Storage Focuses on Flexible Customer Offerings . Analysis of Adobe's $20B Figma Acquisition . Backblaze Builds out a Partner Program . Analysis of DigitalOcean's Acquisitions