NASDAQ$ADBE
Adobe Systems Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Adobe's Q4 2022 results showed record revenue and strong digital media performance.
Adobe reported record Q4 revenue of $4.53 billion, a 10% year-over-year increase, with strong performance in Digital Media and Digital Experience segments. The company's GAAP EPS was $2.53 and non-GAAP EPS was $3.60. Record cash flows from operations reached $2.33 billion.
- Adobe achieved revenue of $4.53 billion, representing 10% year-over-year growth.
- Digital Media segment revenue was $3.30 billion, a 10% year-over-year increase.
- Net new Digital Media ARR was $576 million, with Digital Media ARR exiting at $13.97 billion.
- GAAP operating income was $1.51 billion and GAAP net income was $1.18 billion.
Headline financials
Revenue & EPS history
Adobe · Revenue · Quarterly
$4.53B
Revenue by segment
Adobe · $4.45B total across 2 segments · Q4 2022
- Digital Media$3.3B+9.6%74.2%
- Digital Experience$1.15B+13.9%25.8%
Forward guidance
Adobe provided fiscal year 2023 and Q1 targets, which do not reflect the planned acquisition of Figma. These targets factor in current expectations for the macroeconomic and foreign exchange environments.
Tailwinds
- Total revenue is expected to be $19.1 billion to $19.3 billion.
- Digital Media net new ARR is expected to be approximately $1.65 billion.
- Digital Media segment revenue is expected to be $13.9 billion to $14.0 billion.
- Digital Experience segment revenue is expected to be $4.925 billion to $5.025 billion.
- Digital Experience subscription revenue is expected to be $4.375 billion to $4.425 billion.
Headwinds
- Changes to foreign exchange rates have resulted in a $712 million downward revaluation to Adobe’s total Digital Media ARR balance.
- Foreign exchange rates are expected to result in an approximately four percent headwind to total revenue year-over-year growth rates in fiscal year 2023.
- First quarter fiscal year 2023 total revenue is expected to be $4.60 billion to $4.64 billion.
- First quarter fiscal year 2023 Digital Media net new ARR is expected to be approximately $375 million.
- First quarter fiscal year 2023 Digital Media segment revenue is expected to be $3.350 billion to $3.375 billion.
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 Q4 2022
-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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