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Adobe Systems (ADBE) Tops Q4 EPS by 3c, Offers Q1 and FY Guidance

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December 12, 2019 4:07 PM EST

Adobe Systems (NASDAQ: ADBE) reported Q4 EPS of $2.29, $0.03 better than the analyst estimate of $2.26. Revenue for the quarter came in at $2.99 billion versus the consensus estimate of $2.97 billion.

GUIDANCE:

Adobe Systems sees FY2020 EPS of $9.75, versus the consensus of $9.76. Adobe Systems sees FY2020 revenue of $13.15 billion, versus the consensus of $13.16 billion.

Adobe Systems sees Q1 2020 EPS of $2.23, versus the consensus of $2.23. Adobe Systems sees Q1 2020 revenue of $3.04 billion, versus the consensus of $3.09 billion.

Adobe Provides Fiscal Year and First Quarter 2020 Financial Targets

The following table summarizes Adobe’s fiscal year 2020 targets.

Adobe fiscal year 2020 revenue

~$13.15 billion

Digital Media segment revenue

~19 percent year-over-year growth

Digital Media annualized recurring revenue (ARR)

~$1.55 billion of net new ARR

Digital Experience segment revenue

~16 percent year-over-year growth

Digital Experience subscription revenue1

~18 percent year-over-year growth

Digital Experience subscription bookings2

>20 percent year-over-year growth

Tax rate

GAAP: ~11%

Non-GAAP: ~11%

Share count

~486 million shares

Earnings per share

GAAP: ~$7.40

Non-GAAP: ~$9.75

1

Includes revenue from SaaS, managed service, ratable term, usage based, and subscription service offerings for Digital Experience

2

Includes annualized subscription value of SaaS, managed service, term and subscription service offerings under contract for Data & Insights, Content & Commerce and Customer Journey Management solutions

The following table summarizes Adobe’s first quarter fiscal year 2020 targets.

Adobe Q1 fiscal year 2020 revenue

~$3.04 billion

Digital Media segment revenue

~19 percent year-over-year growth

Digital Media annualized recurring revenue (ARR)

~$360 million of net new ARR

Digital Experience segment revenue

~15 percent year-over-year growth

Tax rate

GAAP: ~5%

Non-GAAP: ~11%

Share count

~489 million shares

Earnings per share

GAAP: ~$1.76

Non-GAAP: ~$2.23

For earnings history and earnings-related data on Adobe Systems (ADBE) click here.


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