|Total Adobe revenue||Approximately $7 billion (~20 percent year-over-year growth)|
|Digital Media segment revenue||Approximately 20 percent year-over-year growth|
|Digital Media Annualized Recurring Revenue ("ARR")||Approximately 25 percent year-over-year growth|
|Adobe Marketing Cloud revenue||Approximately 20 percent year-over-year growth|
|Adobe Marketing Cloud Annual Subscription Value ("ASV") bookings||Approximately 30 percent year-over-year growth|
|GAAP earnings per share||Approximately $2.85|
|Non-GAAP earnings per share||Approximately $3.75|
Adobe Reaffirms Financial TargetsAdobe stated it expects to achieve Q4 FY2016 revenue in its targeted range of $1.55 billion to $1.60 billion. The Company also stated it is on track to achieve earnings per share within its targeted ranges which were $0.60 to $0.66 on a GAAP-basis, and $0.83 to $0.89 on a non-GAAP basis. The Company also expects to meet or exceed its FY2015 through FY2018 compound annual growth rate ("CAGR") targets, which are summarized in the table below.
|Total Adobe revenue||Approximately 20 percent CAGR|
|Digital Media segment revenue||Greater than 20 percent CAGR|
|Digital Media ARR||Greater than 20 percent CAGR|
|Adobe Marketing Cloud revenue||Greater than 20 percent CAGR|
|Adobe Marketing Cloud ASV bookings||Approximately 30 percent CAGR|
|Non-GAAP earnings per share 1||Approximately 30 percent CAGR|
|Operating cash flow||Approximately 25 percent CAGR|
For a discussion of these and other risks and uncertainties, please refer to Adobe's Annual Report on Form 10-K for our fiscal year 2015 ended Nov. 27, 2015, and Adobe's Quarterly Reports on Form 10-Q issued in fiscal year 2016.Adobe assumes no obligation to, and does not currently intend to, update these forward-looking statements. About Adobe Systems Incorporated Adobe is changing the world through digital experiences. For more information, visit www.adobe.com. © 2016 Adobe Systems Incorporated. All rights reserved. Adobe, the Adobe logo and Creative Cloud are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries. All other trademarks are the property of their respective owners. Reconciliation of GAAP to Non-GAAP Financial Targets The following table shows Adobe's preliminary FY2017 GAAP earnings per share financial target reconciled to non-GAAP included in this document.
|Diluted earnings per share:|
|GAAP diluted earnings per share||$||2.85|
|Stock-based and deferred compensation expense||0.72|
|Amortization of purchased intangibles||0.28|
|Income tax adjustments||(0.10||)|
|Non-GAAP diluted earnings per share||$||3.75|
|Shares used to compute diluted earnings per share (in millions)||500.0|
Adobe's management believes it is useful for itself and investors to review, as applicable, both GAAP information that may include items such as stock-based and deferred compensation expenses, restructuring and other charges, amortization of purchased intangibles and certain activity in connection with technology license arrangements, investment gains and losses and the related tax impact of all of these items, income tax adjustments, the income tax effect of the non-GAAP pre-tax adjustments from the provision for income taxes, and the non-GAAP measures that exclude such information in order to assess the performance of Adobe's business and for planning and forecasting in subsequent periods. Whenever Adobe uses such a non-GAAP financial measure, it provides a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed above.