Adobe Inc. FY21 revenue growth of 20 percent year-on-year to $4.11 billion, beating the consensus of $4.09 billion.
Revenue for the Digital Media segment was $3.01 billion, up 21 percent Y/Y. Creative revenue grew 19 percent Y/Y to $2.48 billion, while Document Cloud revenue rose 29 percent to $532 million.
Digital Experience segment revenue was $1.01 billion, up 23 percent Y/Y. Digital Experience subscription revenue was $886 million, up 27 percent Y/Y.
Digital Media Annualized Recurring Revenue rose $571 million Q/Q to $12.24 billion exiting the quarter. Creative ARR grew to $10.30 billion, while Document Cloud ARR grew to $1.93 billion.
Adobe generated $2.1 billion in operating cash flow and held $5.8 billion in cash and equivalents.
Non-GAAP EPS of $3.20 was in-line with the consensus.
“Adobe’s vision, category leadership, ground-breaking technology, and large and loyal customer base position us well for fiscal 2022 and beyond,” Chair and CEO Shantanu Narayen said.
“With an estimated $205 billion addressable market, we are well-positioned for significant growth in the years ahead with our industry-leading products and platforms,” CFO Dan Durn said.
Adobe sees Q1 FY22 revenue of $4.23 billion, below the consensus of $4.34 billion. It sees non-GAAP EPS of $3.35, missing the consensus of $3.38.
Adobe sees FY22 revenue of $17.9 billion, below the consensus of $18.2 billion. It sees non-GAAP EPS of $13.70, missing the consensus of $14.26.
By Anusuya Lahiri
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