CLAIM #4171 · Adobe Systems Incorporated (ADBE) · 2024Q2 earnings call · Jun 13, 2024 · due Nov 29, 2024
“As we look at the momentum we're carrying into the back half, we expect to deliver year-over-year growth of Creative net new ARR in Q3 and Q4 and are raising our Digital Media net new ARR target for the fiscal year.”
Dan Durn · CFO
How to check this claim
Look at: Creative net new ARR (year-over-year change) for Q3 and Q4 FY2024, and full-year Digital Media net new ARR target
It came true if: Creative net new ARR growth > 0% year-over-year in both Q3 and Q4 FY2024, and full-year Digital Media net new ARR meets or exceeds the raised target given on this call
Where: Adobe quarterly earnings release and management commentary (Q3 and Q4 FY2024 earnings calls / investor datasheets)
In context
“h particular strength in digital acquisition on adobe.com, with multiple product releases during the quarter driving customer engagement and demand; strong growth of single apps, including in imaging, photography, design, and stock; accelerating customer interest and usage for our new Express Mobile and Express for Business offerings; strong renewals as customers migrate to higher-value, higher ARPU Creative Cloud plans that include Firefly entitlements; continued subscription unit growth, with particular strength in emerging markets; and strength from SMBs adopting our team offering as well as in the enterprise segment with ETLA adoption. We're pleased with the performance of the Creative business in the first half of the year, fueled by strong commercial subscriptions in both Q1 and Q2. As we look at the momentum we're carrying into the back half, we expect to deliver year-over-year growth of Creative net new ARR in Q3 and Q4 and are raising our Digital Media net new ARR target for the fiscal year. Turning to our Digital Experience segment. In Q2, we achieved revenue of $1.33 billion, which represents 9% year-over-year growth as reported and in constant currency. Digital Experience subscription revenue was $1.20 billion, growing 13% year-over-year as reported and in constant currency. Q2 Digital Experience growth drivers included: subscription revenue strength from transformational accounts; market leadership with AEP and native applications, with subscription revenue growing 60% year-over-year; additional subscription revenue strength across the data insights and audiences and customer journey categories; and accelerated adoption of our AEM and Workfront solutions from businesses looking to solve their content supply chain challenges. Turning to the income statement and balance she”
Verify independently
SEC filings for ADBE ↗ · Claim quote is verbatim from the 2024Q2 earnings call.