Summary by Moomoo AI
Adobe, a leader in digital media and digital experience software, reported robust financial performance for fiscal 2023. The company's Digital Media Annualized Recurring Revenue (ARR) surged to approximately $15.17 billion, marking a 14% increase from the previous year. Creative revenue grew by 10% to $11.52 billion, while Document Cloud revenue climbed 13% to $2.70 billion. Digital Experience segment revenue also saw an 11% increase, reaching $4.89 billion. Overall, Adobe's total revenue for fiscal 2023 was $19.41 billion, a 10% rise from fiscal 2022. Net income for the year grew by 14% to $5.43 billion. Despite these gains, cash flows from operations saw a 7% decrease to $7.30 billion. Geographically, revenue increased across all regions, with the Americas leading at a 14% growth rate. Adobe's business development was highlighted by the release of Adobe Firefly, a...Show More