NASDAQ$ADBE
Adobe Systems Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Adobe's Q3 2024 performance reflected record revenue, driven by innovation and customer value delivery.
Adobe achieved record Q3 revenue of $5.41 billion, representing 11% year-over-year growth. The company's diluted earnings per share was $3.76 on a GAAP basis and $4.65 on a non-GAAP basis. Net new Digital Media ARR reached $504 million, and exiting RPO surpassed $18 billion, growing 15% year-over-year.
- Adobe reported record Q3 revenue of $5.41 billion, an 11% increase year-over-year.
- Net new Digital Media ARR was $504 million, with Digital Media ARR reaching $16.76 billion.
- GAAP operating income was $1.99 billion, and non-GAAP operating income was $2.52 billion.
- The company generated cash flows from operations of $2.02 billion.
Headline financials
Revenue & EPS history
Adobe · Revenue · Quarterly
$5.41B
Revenue by segment
Adobe · $4.99B total across 2 segments · Q4 2023
- Digital Media$3.72B+12.7%74.5%
- Digital Experience$1.27B+10.4%25.5%
Forward guidance
Adobe provided fourth quarter targets that factor in current macroeconomic conditions and year-end seasonal strength.
Tailwinds
- Total revenue is expected to be between $5.50 billion and $5.55 billion.
- Digital Media net new ARR is projected to be approximately $550 million.
- Digital Media segment revenue is targeted to be between $4.09 billion and $4.12 billion.
- Digital Experience segment revenue is expected to be between $1.36 billion and $1.38 billion.
- Non-GAAP earnings per share are projected to be between $4.63 and $4.68.
Headwinds
- Targets assume diluted share count of ~445 million for fourth quarter fiscal year 2024.
- GAAP earnings per share are expected to be between $3.58 and $3.63.
- GAAP tax rate is expected to be approximately 16.0%.
- Non-GAAP tax rate is expected to be approximately 18.5%.
- Current macroeconomic conditions are factored into the targets.
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 Q3 2024
-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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro