Adobe Inc. (ADBE) CEO Shantanu Narayen on Q2 2022 Results - Earnings Call Transcript

Adobe Inc. (NASDAQ:ADBE) Q2 2022 Earnings Conference Call June 16, 2022 5:00 PM ET

Company Participants

Jonathan Vaas - 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

Kirk Materne - Evercore ISI

Brent Thill - Jefferies

Brad Sills - Bank of America

Alex Zukin - Wolfe Research

Saket Kalia - Barclays

Karl Keirstead - UBS

Jay Vleeschhouwer - Griffin Securities

Keith Weiss - Morgan Stanley

Tyler Radke - Citi

Gregg Moskowitz - Mizuho

Kash Rangan - Goldman Sachs

Brad Zelnick - Deutsche Bank

Operator

Good day and welcome to the Q2 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.

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 second quarter fiscal year 2022 financial results. You can find our Q2 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, June 16 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 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. Good afternoon and thank you for joining us. Adobe had a strong Q2 driven by the secular shift to digital that is transforming how we live, work and play. In Q2, we achieved a record $4.39 billion in revenue representing 15% year-over-year growth.