Adobe Q1 Report 2023

“Our strong engine of innovation combined with world-class operational rigor drove profitable growth in Q1, setting us up to deliver another strong fiscal year,” said Dan Durn, executive vice president and CFO, Adobe. “Adobe is better positioned today than we’ve ever been to serve our customers globally.”

First Quarter Fiscal Year 2023 Financial Highlights

•Adobe achieved revenue of $4.66 billion in its first quarter of fiscal year 2023, which represents 9 percent year-over-year growth or 13 percent in constant currency. Diluted earnings per share was $2.71 on a GAAP basis and $3.80 on a non-GAAP basis.

•GAAP operating income in the first quarter was $1.59 billion and non-GAAP operating income was $2.13 billion. GAAP net income was $1.25 billion and non-GAAP net income was $1.75 billion.

•Cash flows from operations were $1.69 billion.

•Remaining Performance Obligations (“RPO”) exiting the quarter were $15.21 billion. •Adobe repurchased approximately 5.0 million shares during the quarter.