Adobe Inc. (ADBE) Q3 2022 Earnings Call Transcript

Adobe Inc. (NASDAQ:ADBE) Q3 2022 Earnings Conference Call September 15, 2022 10:00 AM ET

Company Participants

Jonathan Vaas - VP, Investor Relations

Shantanu Narayen - Chairman and CEO

David Wadhwani - President, Digital Media

Anil Chakravarthy - President, Digital Experience

Dan Durn - EVP and CFO

Conference Call Participants

Kash Rangan - Goldman Sachs

Brad Zelnick - Deutsche Bank

Alex Zukin - Wolfe Research

Brent Thill - Jefferies

Keith Weiss - Morgan Stanley

Brad Sills - Bank of America Securities

Jay Vleeschhouwer - Griffin Securities

Saket Kalia - Barclays

Phil Winslow - Credit Suisse

Kirk Materne - Evercore ISI

Operator

Good day. And welcome to the Q3 FY 2022 Adobe Earnings Conference Call. Today’s conference is being recorded.

At this time, I would like to turn the conference over to Jonathan Vaas, VP of Investor Relations. Please go ahead, sir.

Jonathan Vaas

Good morning and thank you for joining us. With me on the call today are Shantanu Narayen, Adobe 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 third quarter fiscal year 2022 financial results. You can find our Q3 press release as well as PDF’s 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, September 15th and contains forward-looking statements that involve risk, 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 then 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 adjusted growth rates in constant currency. During this presentation, Adobe’s executives will refer to constant currency growth rates unless otherwise stated. Reconciliations between the two are available in our earnings release and on Adobe’s Investor Relations website.

I will now turn the call over to Shantanu.

Shantanu Narayen

Thanks, Jonathan, and thank you for joining us. Adobe had another record quarter, achieving $4.43 billion in revenue, which represents 15% year-over-year growth. GAAP earnings per share for the quarter was $2.42 and non-GAAP earnings per share was $3.40.