Software giant Adobe reports record $2 billion revenue in Q4 of fiscal year 2017
New Delhi : Riding on the success of its Creative, Document and Experience Cloud portfolios, software giant Adobe on Wednesday said that it has achieved a record $2.01 billion revenue in the fourth quarter of fiscal year 2017 that ended on December 1.
The company also registered an annual revenue of $7.30 billion -- representing a 25 per cent year-over-year growth.
"Adobe delivered a record revenue of $2 billion in Q4. Our strong business momentum is driven by the market-leading solutions we provide to empower people to create and businesses to digitally transform," Shantanu Narayen, President and CEO of Adobe, said in a statement.
The company said that its 'Digital Media' segment revenue was $1.39 billion, with Creative and Document Cloud achieving record quarterly revenue of $1.16 billion and $235 million, respectively.
Digital Media Annualised Recurring Revenue (ARR) grew to $5.23 billion exiting the quarter, a quarter-over-quarter increase of $359 million.
Adobe Experience Cloud achieved a record revenue of $550 million, which represents a 18 per cent year-over-year growth.
"Adobe achieved record annual and quarterly revenue and the leverage in our business model once again drove record profit and earnings," said Mark Garrett, Executive Vice-President and CFO of Adobe, adding that "We are raising our fiscal 2018 revenue target and remain bullish about delivering strong top line and bottom line growth."
The software giant's operating income grew 37 per cent and net income grew 26 per cent year-over-year on a GAAP-basis, operating income grew 37 per cent and net income grew 39 per cent year-over-year on a non-GAAP basis.
"Cash flow from operations was a record $833 million and deferred revenue grew to an all-time high of $2.49 billion. The company repurchased approximately 1.9 million shares during the quarter, returning $297 million of cash to stockholders," Adobe said.
As far as revenue details of the fiscal year are concerned, Adobe reported $5.01 billion in Digital Media segment revenue, with Creative and Document Cloud achieving a record annual revenue of $4.17 billion and $837 million, respectively.