ADOBE INC

For the period ended Dec 1, 2023. Filed Jan 17, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Jan 17, 2024

ADBE$236.70-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

(In millions, except per share data)

	Years Ended
	December 1,2023	December 2,2022	December 3,2021
Revenue:
Subscription	$18,284	$16,388	$14,573
Product	460	532	555
Services and other	665	686	657
Total revenue	19,409	17,606	15,785
Cost of revenue:
Subscription	1,822	1,646	1,374
Product	29	35	41
Services and other	503	484	450
Total cost of revenue	2,354	2,165	1,865
Gross profit	17,055	15,441	13,920
Operating expenses:
Research and development	3,473	2,987	2,540
Sales and marketing	5,351	4,968	4,321
General and administrative	1,413	1,219	1,085
Amortization of intangibles	168	169	172
Total operating expenses	10,405	9,343	8,118
Operating income	6,650	6,098	5,802
Non-operating income (expense):
Interest expense	(113)	(112)	(113)
Investment gains (losses), net	16	(19)	16
Other income (expense), net	246	41	—
Total non-operating income (expense), net	149	(90)	(97)
Income before income taxes	6,799	6,008	5,705
Provision for income taxes	1,371	1,252	883
Net income	$5,428	$4,756	$4,822
Basic net income per share	$11.87	$10.13	$10.10
Shares used to compute basic net income per share	457	470	477
Diluted net income per share	$11.82	$10.10	$10.02
Shares used to compute diluted net income per share	459	471	481

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.