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CLAIM #4141 · Adobe Systems Incorporated (ADBE) · 2024Q1 earnings call · Mar 14, 2024 · due Nov 29, 2024

You can expect to see the product advances and Express with Firefly on mobile. Firefly Services and AI Assistant in Acrobat drive ARR acceleration in the second half of the year.

David Wadhwani · President, Digital Media

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
Firefly Services and AI Assistant in Acrobat drive ARR acceleration in the second half of the year
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: Adobe's total ARR growth rate (net new ARR added), specifically comparing first half vs second half of fiscal year 2024

It came true if: Second-half FY2024 net new ARR growth exceeds first-half FY2024 net new ARR growth

Where: Adobe quarterly earnings releases and management commentary (Q3 and Q4 FY2024 earnings calls, 10-K/10-Q disclosures)

In context

usinesses to hire talented creators through the Behance platform. The unveiling of new research like the preview of our music generation models and editing tools last month and our video auto dubbing models earlier today have inspired our Creative Cloud and Express customers. The introduction of Firefly Services for enterprises drove notable wins in the quarter, including Accenture, IPG and Starbucks. Other key enterprise wins include AECOM, Capital Group, Dentsu, IBM, Nintendo and RR Donnelley. Given the size of opportunity we see with generative AI, we continue to focus on driving innovation, adoption and usage of our AI solutions. In Q1, we saw strength across both clouds with record new commercial subscriptions in Creative Cloud for Q1, and strong product-led growth in Document Cloud. You can expect to see the product advances and Express with Firefly on mobile. Firefly Services and AI Assistant in Acrobat drive ARR acceleration in the second half of the year. We're excited about our product roadmap. The 6.5 billion assets generated to date include images, vectors, designs and text effects, and we can't wait to share the work we're doing on audio, video and 3D through research sneaks and product announcements in the coming months. I'll now pass it to Anil. Anil Chakravarthy: Thanks, David. Hello, everyone. Experience Cloud business had a great first quarter, achieving $1.29 billion in revenue and was our strongest Q1 on record for new business. Subscription revenue was $1.16 billion, representing 12% year-over-year growth. Companies are prioritizing digital investments to improve marketing agility and customer engagement while driving growth and profitability. Adobe's holiday shopping report which analyzes trillions of data points, showed stron

Verify independently

SEC filings for ADBE · Claim quote is verbatim from the 2024Q1 earnings call.