NASDAQ$ADBE
Adobe Systems Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Adobe's Q2 2023 revenue reached a record high, demonstrating strong demand across Creative Cloud, Document Cloud, and Experience Cloud.
Adobe reported record revenue in Q2 fiscal year 2023, driven by strong performance across its Digital Media and Digital Experience segments. The company raised its annual targets for revenue, EPS, and Digital Media net new ARR.
- Adobe achieved revenue of $4.82 billion, a 10% year-over-year growth.
- GAAP diluted earnings per share was $2.82, and non-GAAP diluted earnings per share was $3.91.
- Net new Digital Media ARR was $470 million, with Digital Media ARR exiting the quarter at $14.14 billion.
- Adobe is providing third quarter targets and updated fiscal year 2023 targets.
Headline financials
Revenue & EPS history
Adobe · Revenue · Quarterly
$4.82B
Revenue by segment
Adobe · $4.73B total across 2 segments · Q2 2023
- Digital Media$3.51B+9.7%74.2%
- Digital Experience$1.22B+10.9%25.8%
Forward guidance
Adobe is providing third quarter targets and updated fiscal year 2023 targets, factoring in current expectations for the macroeconomic environment and summer seasonality.
Tailwinds
- Total revenue is expected to be between $4.83 billion and $4.87 billion for Q3 2023.
- Digital Media net new ARR is expected to be approximately $410 million for Q3 2023.
- Digital Media segment revenue is projected to be between $3.55 billion and $3.57 billion for Q3 2023.
- Digital Experience segment revenue is expected to range from $1.21 billion to $1.23 billion for Q3 2023.
- Non-GAAP EPS is expected to be between $3.95 and $4.00 for Q3 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
-0.5%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-0.3%
Avg return
30 days after
43%
32 / 74 earnings
Positive
+14.2%
Q2 2024
Best reaction
-19.4%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.2% | -4.6% | — | |
| Q1 2026 | -0.1% | -8.8% | -16.5% | |
| Q4 2025 | +1.6% | +1.4% | -2.7% | |
| Q3 2025 | -3.4% | +3.3% | -3.7% | |
| Q2 2025 | -0.8% | -0.3% | -5.0% | |
| Q1 2025 | -13.9% | -10.8% | -19.6% | |
| Q4 2024 | -13.2% | -15.6% | -25.8% | |
| Q3 2024 | -7.5% | -11.3% | -14.6% | |
| Q2 2024 | +14.2% | +13.6% | +21.6% | |
| Q1 2024 | -14.1% | -9.1% | -17.3% | |
| Q4 2023 | -7.7% | -5.4% | -5.9% | |
| Q3 2023 | -4.5% | -2.1% | -0.9% | |
| Q2 2023 | +3.3% | +1.3% | +7.4% | |
| Q1 2023 | +6.0% | +8.9% | +13.8% | |
| Q4 2022 | -0.4% | -0.5% | +1.3% | |
| Q3 2022 | -19.4% | -21.7% | -22.5% | |
| Q2 2022 | -4.3% | -3.7% | +0.8% | |
| Q1 2022 | -6.8% | -4.8% | -8.0% | |
| Q4 2021 | -11.7% | -11.6% | -17.4% | |
| Q3 2021 | -2.4% | -2.9% | -0.4% | |
| Q2 2021 | +4.1% | +6.0% | +11.6% | |
| Q1 2021 | -0.2% | +3.7% | +12.1% | |
| Q4 2020 | -1.6% | -0.2% | +0.3% | |
| Q3 2020 | -2.0% | -3.8% | +3.1% | |
| Q2 2020 | -0.1% | +1.2% | +14.6% | |
| Q1 2020 | +6.4% | -1.1% | +1.1% | |
| Q4 2019 | +4.7% | +6.3% | +11.9% | |
| Q3 2019 | -1.1% | -1.8% | -4.8% | |
| Q2 2019 | +5.7% | +8.6% | +12.5% | |
| Q1 2019 | -2.8% | -1.5% | +2.8% | |
| Q4 2018 | -6.3% | -7.9% | -3.3% | |
| Q3 2018 | +2.6% | +1.1% | -7.1% | |
| Q2 2018 | -1.7% | -1.7% | +1.0% | |
| Q1 2018 | +3.3% | +5.2% | +2.6% | |
| Q4 2017 | +0.4% | -1.1% | +10.3% | |
| Q3 2017 | -3.7% | -4.7% | +10.2% | |
| Q2 2017 | +2.8% | +3.6% | +6.8% | |
| Q1 2017 | +4.0% | +2.4% | +5.7% | |
| Q4 2016 | -2.1% | -0.0% | +2.6% | |
| Q3 2016 | +8.1% | +7.8% | +9.4% | |
| Q2 2016 | -4.1% | -5.9% | -1.7% | |
| Q1 2016 | +6.0% | — | — | |
| Q4 2015 | +2.1% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | -1.3% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | +8.8% | — | — | |
| Q3 2014 | -4.2% | — | — | |
| Q2 2014 | +8.1% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +11.4% | — | — | |
| Q3 2013 | +9.2% | — | — | |
| Q2 2013 | +5.5% | — | — | |
| Q1 2013 | +3.4% | — | — | |
| Q4 2012 | +4.5% | — | — | |
| Q3 2012 | +6.0% | — | — | |
| Q2 2012 | -2.0% | — | — | |
| Q1 2012 | -2.0% | — | — | |
| Q4 2011 | -0.9% | — | — | |
| Q3 2011 | +1.7% | — | — | |
| Q2 2011 | +2.1% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q4 2007 | -3.1% | — | — | |
| Q4 2010 | -3.1% | — | — | |
| Q3 2010 | -5.0% | — | — | |
| Q2 2010 | -5.6% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q1 2009 | +0.2% | — | — | |
| Q4 2009 | -4.6% | — | — | |
| Q3 2009 | -2.1% | — | — | |
| Q3 2008 | -2.1% | — | — | |
| Q2 2008 | +0.4% | — | — | |
| Q2 2009 | +0.4% | — | — | |
| Q4 2008 | +0.4% | — | — |
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