“The year is off to a good start and assuming current macroeconomic conditions, I am pleased to reaffirm our full year guidance for fiscal year 2025.”

In context

“sh and short-term investment position exiting Q1 was $7.44 billion. In Q1, we entered into share repurchase agreements totaling $3.25 billion, and we currently have $14.4 billion remaining of our $25 billion authorization granted in March 2024. Let me now turn to our Q2 FY 2025 financial targets. For Q2 FY’25 we are targeting. Total Adobe revenue of $5.77 billion to $5.82 billion. Digital Media segment revenue of $4.27 billion to $4.30 billion. Digital Experience segment revenue of $1.43 billion to $1.45 billion. Digital Experience subscription revenue of $1.315 billion to $1.325 billion. GAAP earnings per share of $3.80 to $3.85; and non-GAAP earnings per share of $4.95 to $5. For Q2, we expect non-GAAP operating margin of approximately 45% and a non-GAAP tax rate of approximately 18.5%. The year is off to a good start and assuming current macroeconomic conditions, I am pleased to reaffirm our full year guidance for fiscal year 2025. This quarter’s strong performance reflects Adobe’s long-standing focus on innovation and meeting the growing needs of our broad customer base. As businesses increasingly prioritize digital transformation, we are uniquely positioned to deliver value through our highly differentiated solutions and proven go-to-market execution to unleash the power of creativity. Looking ahead, we are excited about the opportunities to drive growth for our customers as we continue to shape the future in the era of AI. We look forward to seeing you next week at our Investor Meeting at Summit 2025. Thank you and we will now take questions. Operator. Operator: Thank you. [Operator Instructions] The first question will come from Brent Thill with Jefferies. Brent Thill : Good afternoon Shantanu, if you took the A”