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CLAIM #4164 · Adobe Systems Incorporated (ADBE) · 2024Q1 earnings call · Mar 14, 2024 · due Nov 29, 2024

The actions that we're taking right now from both a pricing and a product standpoint on the Creative side will be more apparent in the back half of the year into the end of the year.

Dan Durn · CFO

PENDING
graded after results covering Nov 29, 2024 are reported

How to check this claim

Look at: Creative segment revenue growth rate (YoY %), as reported quarterly

It came true if: Q4 FY2024 Creative segment YoY revenue growth rate higher than Q2 FY2024 YoY growth rate

Where: Adobe quarterly earnings release / 10-Q/10-K segment revenue disclosures

In context

ll off. Is that more of a 3Q or 4Q phenomenon? Is there any way you could help size that impact, just to feel good about David's earlier comment about that roll-off being a big part of the second-half ARR acceleration? Thank you. Dan Durn: Yeah. So there was two pricing actions that we had taken in 2022. In May of 2022, we pushed forward a pricing action, and then October of 2022, we pushed forward the Doc Cloud line optimization, where we integrated Sign. The one-year anniversary of those pricing actions from May of 2022 and October of 2023, or -- I'm sorry, October of 2022 will be behind us on the one year anniversary. So you will still see some Q3 impact from pricing actions in the year-ago period. Q4 will be a clean look for the company, at least two months in Q4 will be a clean look. The actions that we're taking right now from both a pricing and a product standpoint on the Creative side will be more apparent in the back half of the year into the end of the year. Karl Keirstead: Okay. That's helpful. David Wadhwani: I think the other way I would look at it, honestly -- sorry, go ahead. Dan Durn: Go ahead, David. David Wadhwani: Well, the way I would look at it, in terms of the rhythm of the numbers and how you've seen sort of what transpired in 2023, and how we look at 2024, and the path to $1.9 billion and beyond, the way I would look at it is we're ahead in Q1. We're ahead in Q1. We're giving you all the reasons why we think there's more product coming and more monetization coming in the rest of the year. And that's what gives us the confidence associated with the targets. I guess there's this question of every quarter, do we reiterate targets? Do we update targets? What does that mean? And the way we've always thought of it is, if it was a way

Verify independently

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