Adobe announced its fiscal fourth quarter and fiscal year 2019 financial results, revealing new quarterly and annual revenue records for the company. During its fourth quarter, which ended Nov. 29, Adobe posted quarterly revenue of $ 2.99 billion, up 21 percent from a year earlier.
The value of the most basic package has increased by $ 8 and now it costs $ 43 per month
With this quarter ended, Adobe posted record annual revenue totaling $ 11.17 billion, up 24 percent from fiscal year 2018.
Adobe President and CEO Shantanu Narayen called the performance "phenomenal", citing loyal customers and product innovation as the reasons for its success.
The company reported growth in a number of business segments, including quarterly revenue growth of 22% over the previous year to $ 2.08 billion in the Digital Media segment. The Creative and Document Cloud segments also grew during the fourth quarter, with revenues of $ 1.74 billion and $ 339 million, respectively.
"Adobe delivered another year of strong revenue growth and profitability expansion, resulting in record profits." "We are optimistic about our opportunities and our ability to continue to deliver strong growth."
– John Murphy, Executive Vice President and CFO, Adobe
Adobe expects its performance to continue trending upward during its first fiscal quarter of the new year. In the first quarter of 2020, the company expects to reach about $ 3.04 billion in quarterly revenue with continued growth in its Digital Experience and Digital Media segments.
Looking out for the full fiscal year 2020, Adobe targets annual revenues of about $ 13.15 billion, with significant growth in its Digital Experience and Digital Media segments. The company also expects revenue and subscription growth for its Digital Experience segment.
Adobe's financial results report can be viewed in full on here.
Source: Digital Photography Review