Adobe Inc. (ADBE) Q1 2023 Earnings Call Transcript

Adobe Inc. (NASDAQ:ADBE) Q1 2023 Earnings Conference Call March 15, 2023 5:00 PM ET

Company Participants

Jonathan Vaas - Vice President, Investor Relations

Shantanu Narayen - Chairman and Chief Executive Officer

David Wadhwani - President, Digital Media

Anil Chakravarthy - President, Digital Experience

Dan Durn - Executive Vice President and Chief Financial Officer

Conference Call Participants

Brad Zelnick - Deutsche Bank

Alex Zukin - Wolfe Research

Keith Weiss - Morgan Stanley

Jake Roberge - William Blair

Brad Sills - Bank of America

Michael Turrin - Wells Fargo Securities

Kash Rangan - Goldman Sachs

Jay Vleeschhouwer - Griffin Securities

Saket Kalia - Barclays

Brent Thill - Jefferies

Operator

Good day and welcome to the Q1 FY 2023 Adobe Earnings Conference Call. Today’s conference is being recorded. At this time, I’d like to turn the conference over to Jonathan Vaas, VP of Investor Relations. Please go ahead.

Jonathan Vaas

Good afternoon and thank you for joining us. With me on the call today are Shantanu Narayen, Adobe’s Chairman and CEO; David Wadhwani, President of Digital Media; Anil Chakravarthy, President of Digital Experience; and Dan Durn, Executive Vice President and CFO. On this call, which is being recorded, we will discuss Adobe’s first quarter fiscal year 2023 financial results. You can find our press release as well as PDFs of our prepared remarks and financial results on Adobe’s Investor Relations website.

The information discussed on this call, including our financial targets and product plans, is as of today, March 15 and contains forward-looking statements that involve risks, uncertainty and assumptions. Actual results may differ materially from those set forth in these statements. For a discussion of these risks, you should review the factors discussed in today’s press release and in Adobe’s SEC filings. On this call, we will discuss GAAP and non-GAAP financial measures. Our reported results include GAAP growth rates as well as constant currency rates. During this presentation, Adobe’s executives will refer to constant currency growth rates, unless otherwise stated. Reconciliations are available in our earnings release and on Adobe’s Investor Relations website.

Adobe Summit is just around the corner in Las Vegas at the Venetian Convention and Expo Center beginning on Tuesday, March 21. Following the Day 1 keynote, we will host a Q&A session with financial analysts and investors in attendance at 11:30 a.m. Pacific Time. Audio of the event will be broadcast live and the replay will be available on Adobe’s IR website. More details about Summit and the agenda are available at summit.adobe.com.