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Adobe Sees Record Revenue in Q3 2023

It grew 10% compared to last year.

Image credit: Adobe

Adobe has published its financial report for Q3 of the fiscal year 2023 which ended on September 1, announcing record revenue of $4.89 billion, representing a 10% year-over-year growth, or 13% in constant currency.

“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio,” said Shantanu Narayen, chair and CEO of Adobe. “The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users.”

In the third quarter, Adobe's GAAP operating income was reported at $1.70 billion, while the non-GAAP operating income was $2.26 billion. Furthermore, the GAAP net income stood at $1.40 billion and the non-GAAP net income was $1.88 billion.

The company stated that the Digital Media segment saw a revenue of $3.59 billion, which is 11% (or 14% in constant currency) better than in the same period last year. Creative revenue experienced an expansion to $2.91 billion, an 11% year-over-year growth, or 14% in constant currency.

In Q4, Adobe wants to get from $4.975 billion to $5.025 billion in revenue, with the Digital Media segment bringing most of the profit: up to $3.70 billion.

Earlier this month, the company also finally fully released its generative AI tool Adobe Firefly.

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