2024-03-14 21:44:09 ET
Adobe Inc. (ADBE)
Q1 2024 Earnings Conference Call
March 14, 2024 05:00 PM ET
Company Participants
Jonathan Vaas - VP of IR
Shantanu Narayen - Chair & CEO
David Wadhwani - President of Digital Media
Anil Chakravarthy - President of Digital Experience
Dan Durn - EVP & CFO
Conference Call Participants
Kirk Materne - Evercore ISI
Brent Thill - Jefferies
Brad Zelnick - Deutsche Bank
Michael Turrin - Wells Fargo Securities
Saket Kalia - Barclays
Alex Zukin - Wolfe Research
Karl Keirstead - UBS
Jay Vleeschhouwer - Griffin Securities
Kash Rangan - Goldman Sachs
Keith Weiss - Morgan Stanley
Presentation
Operator
Good day, and welcome to the Q1 FY 2024 Adobe Earnings Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Jonathan Vaas, Vice President 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 Chair 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 2024 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 14, and contains forward-looking statements that involve risks, uncertainty and assumptions. Actual results may differ materially from those set forth in these statements. For more information on those risks, please review today's earnings release and 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. Non-GAAP 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 26. Following the day one keynote, we will host an Investor Meeting at 2:00 PM Pacific Time. The event will be webcast live and the replay will be available on Adobe's IR website. More details about the summit are available at summit.adobe.com.
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 first quarter. We achieved $5.18 billion in revenue in Q1, representing 12% year-over-year growth. GAAP earnings per share for the quarter was $1.36, and non-GAAP earnings per share was $4.48, representing 18% year-over-year growth. Our performance reflects the essential role that Adobe products play in driving the global digital economy....
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Adobe Inc. (ADBE) Q1 2024 Earnings Call Transcript