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TheStreet Open House

Adobe Reports Strong Q2 FY2013 Financial Results

Adobe Systems Incorporated (Nasdaq:ADBE) today reported financial results for its second quarter of fiscal year 2013 ended May 31, 2013.

Second Quarter Financial Highlights

  • Adobe® achieved revenue of $1.011 billion, within its targeted range of $975 million to $1.025 billion.
  • Diluted earnings per share were $0.15 on a GAAP-basis, and $0.36 on a non-GAAP basis.
  • Operating income was $111.3 million and net income was $76.5 million on a GAAP basis. Operating income was$247.3 million and net income was $182.9 million on a non-GAAP basis.
  • Adobe ended Q2 with 700 thousand paid Creative Cloud™ subscriptions, an increase of 221 thousand when compared to the number of subscriptions as of the end of Q1 fiscal year 2013.
  • Adobe Marketing Cloud quarterly revenue was $229.6 million, with bookings growth of greater than 25 percent.

A reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

Executive Quotes

“Our Q2 results reflect our leadership position in Digital Media and Digital Marketing,” said Shantanu Narayen, president and chief executive officer, Adobe. “Creative Cloud is revolutionizing the creative process, and Adobe Marketing Cloud is quickly becoming the platform of choice for the world's leading brands, advertising agencies and media companies.”

“Adoption of Creative Cloud continued to accelerate and we drove strong Adobe Marketing Cloud bookings growth in Q2,” said Mark Garrett, executive vice president and chief financial officer, Adobe.

Adobe to Webcast Earnings Conference Call

Adobe will webcast its second quarter fiscal year 2013 earnings conference call today at 2:00 p.m. Pacific Time from its investor relations website: www.adobe.com/ADBE. A copy of Adobe management’s prepared remarks, including financial targets and conference call slides, has been posted to Adobe’s investor relations website in advance of the conference call for reference.

A reconciliation between GAAP and non-GAAP financial targets is also provided on the website.

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