Form 8-K · Current Report · Filed 2024-03-14
Adobe Announces New $25 Billion Stock Repurchase Program and Record Q1 Revenue
On March 14, 2024, Adobe Inc. reported record revenue of $5.18 billion for its first quarter fiscal year 2024, demonstrating strong momentum across its Creative Cloud, Document Cloud, and Experience Cloud segments. Additionally, Adobe's Board of Directors approved a new stock repurchase program authorizing the company to repurchase up to $25 billion in common stock through March 14, 2028. Adobe also announced net new Digital Media Annualized Recurring Revenue (ARR) of $432 million, with Digital Media ARR at $15.76 billion and Document Cloud ARR at $2.98 billion at the end of the quarter.
- Filer
- Adobe Inc. ADBE · NASDAQ
- Filed
- Accession
- 0000796343-24-000057
- CIK
- 0000796343
- Signal
- Medium impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$573.55
Next session
-14.1%
Since filing
-56.3%
Latest close
$250.41
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from ADBE reporting the same item, with the next session's move:
Exhibits (2)
About Adobe Inc.
Adobe Inc. is a leading global software company that specializes in the creation of multimedia and creativity software products. Known for their industry-standard tools such as Photoshop, Illustrator, and Acrobat, Adobe's software facilitates a wide spectrum of creative work ranging from graphic design and photo editing to digital document management. The company's Adobe Creative Cloud, a subscription service, has become integral for professionals in media, publishing, and marketing sectors, providing access to an array of applications and services. Adobe's innovations extend into digital marketing solutions with Adobe Experience Cloud, assisting businesses in leveraging data for effective customer engagement. Founded in 1982 and headquartered in San Jose, California, Adobe has significantly influenced creative industries and digital marketing landscapes. Its software solutions are crucial for both individual creatives and enterprises, enhancing productivity and enabling cutting-edge content creation and distribution in an ever-evolving digital market.
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