Adobe has announced its fiscal fourth quarter and fiscal 2019 financial results, revealing that they set new quarterly and annual revenue records for the company.
During its fourth quarter, which ended on November 29, Adobe saw quarterly revenue of $2.99 billion, a 21% year-over-year increase. With that quarter finalized, Adobe has revealed record annual revenue totaling $11.17 billion, a 24% year-over-year increase over its fiscal year 2018.
Adobe President and CEO Shantanu Narayen called the performance ‘phenomenal,’ citing both loyal customers and product innovation as among the reasons for its success.
The company reports growth across multiple business segments, including a 22% year-over-year Digital Media segment quarterly revenue increase to $2.08 billion. Adobe’s Creative and Document Cloud segments also grew during Q4 with revenues of $1.74 billion and $339 million, respectively.
Adobe expects its performance to continue trending upward through its first fiscal quarter of the new year. In Q1 2020, the company is aiming for around $3.04 billion in quarterly revenue with continued growth in its Digital Media and Digital Experience segments.
Looking outward at the full fiscal year 2020, Adobe is targeting annual revenue of around $13.15 billion with significant growth in its Digital Media and Digital Experience segments, as well as growth in its Digital Experience subscription revenue and bookings.
Author: Go to Source