Adobe Reports Strong Q4 2013

From Adobe:

Creative Cloud Subscriptions Accelerate to More Than 1.4 Million; Adobe Marketing Cloud Surpasses Revenue of $1 Billion in 2013

SAN JOSE, Calif. — Dec. 12, 2013 — Adobe (Nasdaq:ADBE) today reported financial results for its fourth quarter and fiscal year 2013 ended Nov. 29, 2013. The Company also provided a financial outlook for fiscal year 2014 and long-term growth targets for key areas of its business.

Fourth Quarter Financial Highlights

• Adobe achieved revenue of $1.04 billion, within its targeted range of $1 billion to $1.05 billion.
• Adobe exited Q4 with 1 million 439 thousand paid Creative Cloud subscriptions, an increase of 402 thousand when compared to the number of subscriptions as of the end of Q3 fiscal year 2013, and enterprise adoption of Creative Cloud was stronger than expected.
• Creative Annualized Recurring Revenue (“ARR”) grew to $768 million, and total Digital Media ARR grew to $911 million.
• Adobe Marketing Cloud quarterly revenue was $316.2 million, representing 38 percent year-over-year growth.
• Diluted earnings per share were $0.13 on a GAAP-basis, and $0.32 on a non-GAAP basis.
• Cash flow from operations was $315.0 million.
• Deferred revenue grew by $94.7 million to a record $828.8 million.
• The company repurchased 7.9 million shares during the quarter, returning approximately $405 million of cash to stockholders.

Fiscal Year 2013 Financial Highlights

• Adobe achieved revenue of $4.06 billion and generated $1.15 billion in cash flow from operations during the year.
• Creative Cloud subscriptions grew by 1.1 million and Document Services subscriptions doubled to more than 1.6 million. In addition, the company added more than $700 million in Digital Media ARR during the year.
• Adobe Marketing Cloud achieved a record $1.02 billion in annual revenue, representing 26 percent year-over-year growth.
• The company repurchased 21.6 million shares during the year, returning approximately $1 billion of cash to stockholders.
• Adobe published other key highlights from its recent fiscal year in an Adobe by the Numbers, FY 2013 Infographic.

Note: The growth of Creative Cloud has likely been aided by Adobe's current special on the Photoshop Photography Program – that's Photoshop CC and Lightroom 5 for $9.99/month with no prior Photoshop ownership required. Deal is valid through December 31.