Adobe Reaffirms Fiscal 2025 Targets After Record Q1 Performance, Driven by AI and Strategic Customer Group Focus

Adobe (ADBE) reported a record first quarter with $5.71 billion in revenue, an 11% year-over-year increase. GAAP earnings per share were $4.14, and non-GAAP earnings per share reached $5.08, up 13% year-over-year. The company reaffirmed its fiscal 2025 targets, highlighting the critical role of Adobe products in the global digital economy. Adobe's success is attributed to innovations across Creative Cloud, Document Cloud, and Experience Cloud, with AI playing a significant role in reimagining technology platforms. The company is focusing on serving distinct customer groups, including creative and marketing professionals, as well as business professionals and consumers, with tailored offerings and solutions. Adobe reported that its AI-first stand-alone and add-on products, such as Acrobat AI Assistant, Firefly App and Services, and GenStudio for Performance Marketing, contributed greater than $125 million book of business exiting Q1 fiscal '25, and expects this AI book of business to double by the end of fiscal '25. Adobe will provide financial visibility into these two new groups starting this quarter and expand on this at its Investor Day at Summit next week.