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CLAIM #4138 · Adobe Systems Incorporated (ADBE) · 2023Q4 earnings call · Dec 13, 2023 · due Nov 30, 2024

Clearly, I think there has been a set of questions around the Digital Media ARR and what I'll take is on that and we're extremely confident about how that continues to be a growth business and perhaps the pricing impact was overestimated.

Anil Chakravarthy · President, Digital Experience

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
we're extremely confident about how that continues to be a growth business and perhaps the pricing impact was overestimated
Reported
we ended the year with just over $2 billion of net new digital media ARR for the first time ever

How to check this claim

Look at: Digital Media segment ARR growth rate, fiscal year

It came true if: FY2024 Digital Media Net New ARR growth (or ARR growth rate) equal to or greater than FY2023 level, indicating continued growth business as claimed

Where: Adobe quarterly/annual earnings release, Digital Media segment ARR disclosure

In context

e and think about its impact in both Document Cloud when we do that and the ability to have summaries and have conversational interfaces with PDF, thereby making every single PDF as David again said, both for communication, collaboration and creation far more compelling. I think you're going to see that same kind of uplift in usage and therefore monetization on the Acrobat side. And since it was the last question. I mean, for us, we look at FY '23, and we're really proud what we were able to accomplish across all spectrums topline revenue, RPO and driving book of business, Creative Cloud, Document Cloud, and Experience Cloud and profitability, and we think '24 is going to be exactly more of the same, which is continuing to drive great innovation, great product growth, great profitability. Clearly, I think there has been a set of questions around the Digital Media ARR and what I'll take is on that and we're extremely confident about how that continues to be a growth business and perhaps the pricing impact was overestimated. And as we said, this is again new growth business and it will be a multi-year pricing benefit for us as we think about the uplift that we have. So we're really pleased. We appreciate you being on the call. And like many of you wished us, happy holidays and we hope to see you soon. Thank you for joining us. Shantanu Narayen: Thanks, everyone. Happy holidays. This concludes the call. Operator: Once again, this concludes today's call. Thank you for your participation. You may now disconnect.

Verify independently

SEC filings for ADBE · Claim quote is verbatim from the 2023Q4 earnings call.