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Adobe Sees 20% Pop in 2019 Revenue

October 17, 2018

Adobe’s executive team  discussed the company’s expanded growth opportunities and strategies across each of its major businesses. As part of its presentation, Adobe outlined numerous growth drivers and show research data that the company’s total addressable market has expanded from approximately $83 billion in 2020 to approximately $108 billion by 2021.

Adobe is reaffirming its current Q4 fiscal year 2018 revenue and earnings per share targets. The company is also providing preliminary growth targets for fiscal year 2019. These targets do not reflect Adobe’s planned acquisition of Marketo, which the company expects to close during Q4 fiscal year 2018.

“Our strategy of empowering people to create and transforming how businesses compete is leading to larger addressable market opportunities and the potential for accelerated revenue and earnings growth,” said Shantanu Narayen, president and CEO, Adobe. “Our 2019 growth targets reflect our continued momentum and market leadership.”

Adobe Provides Preliminary FY2019 Growth Targets

At today’s financial analyst meeting, Adobe is providing preliminary growth targets for its fiscal year 2019, which are summarized in the table below.

       
Total Adobe revenue1     Approximately 20 percent year-over-year growth
Digital Media segment revenue     Approximately 20 percent year-over-year growth
Digital Experience segment revenue     Approximately 20 percent year-over-year growth
Digital Media annualized recurring revenue (“ARR”)     Approximately $1.4 billion of net new ARR
Digital Experience subscription bookings2     Approximately 25 percent year-over-year growth
1     Revenue targets were set based on Sept. 2018 foreign exchange (“FX”) rates, which for current planning purposes are assumed to be constant during fiscal year 2019
2     Includes annualized subscription value of SaaS, managed service and term offerings under contract for Adobe Analytics Cloud, Adobe Marketing Cloud and Magento Commerce Cloud
       

Adobe expects to report Q4 fiscal year 2018 financial results and provide fiscal year 2019 revenue and earnings per share targets on Dec. 13, 2018. These results and targets are expected to include the impact of the acquisition of Marketo.

Adobe Reaffirms Q4 Revenue and Earnings Targets

As part of its meeting today, Adobe is affirming it is on track to achieve Q4 fiscal year 2018 revenue of $2.42 billion. The Company also stated it is on track to achieve its Q4 earnings per share targets of $1.42 on a GAAP-basis, and $1.87 on a non-GAAP basis, as well as meet other financial metrics it targeted for the quarter. These targets do not reflect the impact of Adobe’s pending acquisition of Marketo.

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