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Adobe (ADBE) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Jan 13, 2025
Adobe (ADBE) reported revenue of $5.6B for the fourth quarter fiscal 2024 (Q4 FY24), +11% from a year earlier and +4% from the quarter before. Operating margin was 34.9%, net earnings $1.7B (30.0% of revenue).
Adobe, Q4 FY24: revenue $5.6B (+11% year over year), operating margin 34.9%, net earnings $1.7B, operating cash flow $2.9B. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.6B | +4% | +11% |
| Gross profit | $5.0B | +3% | +13% |
| Operating profit | $2.0B | -2% | +12% |
| Net earnings | $1.7B | -0.1% | +13% |
| Operating cash flow | $2.9B | +45% | +83% |
| Free cash flow | $2.9B | +46% | +85% |
What changed
Revenue was $5.6B in Q4 FY24, up 11% year over year and up 4% from the previous quarter. Subscription was the largest line at 96% of revenue.
Gross margin was 89.0%, up 1.6 points from a year earlier. Operating profit was $2.0B, a 34.9% margin (up 0.4 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, above the 35% margin then. Operating expenses grew 14% against revenue growth of 11%. The fastest-growing cost line was General & admin (+23%). Net earnings were $1.7B, up 13% year over year. The effective tax rate was 15.5%.
Operating cash flow was $2.9B (up 83% year over year), 174% of net earnings. Non-cash charges added back $0.22B of depreciation and amortization and $0.44B of share-based compensation. Working capital and other items added $0.58B. Capital expenditures of $0.05B left free cash flow of $2.9B.
Questions
What was Adobe's revenue in the fourth quarter fiscal 2024?
Adobe (ADBE) reported revenue of $5.6B for the fourth quarter fiscal 2024 (Q4 FY24), +11% from a year earlier and +4% from the quarter before.
Was Adobe profitable in the fourth quarter fiscal 2024?
Operating profit was $2.0B (34.9% of revenue) and net earnings $1.7B.
Source: Adobe 10-K on SEC EDGAR.