Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Paying user area
Try for free
Adobe Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Adobe Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Adobe Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-08-29), 10-Q (reporting date: 2025-05-30), 10-Q (reporting date: 2025-02-28), 10-K (reporting date: 2024-11-29), 10-Q (reporting date: 2024-08-30), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01).
- Revenue Trends
- Revenue shows a consistent upward trend throughout the analyzed periods, increasing from $2,601 million in early 2019 to $5,988 million by mid-2025. Subscription revenue is the predominant component, more than doubling over the period, reflecting strong growth and increased customer adoption. Product revenue declines gradually, indicating a reduction in traditional product sales or shifts in product strategy. Services and other revenue fluctuate but generally remain stable around the $125 to $180 million range, without significant growth.
- Cost of Revenue
- The cost of revenue generally increases in line with revenue growth, rising from $397 million to $642 million. Subscription costs increase proportionally; however, some variability is observed in product and services costs, with the latter peaking sharply around early 2020 and then stabilizing. Overall gross profit rises steadily, indicating maintained or improved margin control despite rising absolute costs.
- Gross Profit
- Gross profit expands significantly in absolute terms, from $2,204 million to $5,346 million, reflecting strong revenue growth with controlled cost increases. This indicates effective operational scalability and pricing power. The margins appear to improve slightly as revenue grows faster than the cost of revenue.
- Operating Expenses
- Operating expenses consistently increase over time, rising from approximately $1,509 million to reach peaks exceeding $3,000 million in intermittent quarters. Research and development show a steady increase, underscoring ongoing investment in innovation. Sales and marketing expenses grow markedly, indicating aggressive market expansion efforts. General and administrative expenses rise more moderately but steadily. Notable is an acquisition termination fee of $1,000 million recorded in one quarter, which temporarily inflates operating expenses substantially.
- Operating Income
- Operating income generally trends upward from $695 million to peaks over $2,100 million, reflecting profitability improvement. Despite the spike in operating expenses due to the acquisition fee in one quarter, the company demonstrates resilience with recovery in operating income thereafter. Operating income growth lags revenue growth slightly, consistent with rising investments and expenses in R&D and marketing.
- Interest and Non-operating Income/Expense
- Interest expense remains relatively stable around $25-50 million, showing limited impact on overall profitability. Investment gains and other income components fluctuate but contribute positively in several periods, supporting overall financial performance. Non-operating income or expense varies widely, with some quarters reflecting negative impacts and others positive, which may relate to market or operational events.
- Income Before Income Taxes and Net Income
- Income before income taxes grows from $702 million to more than $2,100 million, closely tracking operating income trends with non-operating items factored in. Income tax provision shows high volatility, fluctuating between negative and positive values, including some substantial reversals, which affects net income continuity. Net income generally increases over time, albeit with fluctuations reflecting tax volatility and the acquisition termination fee impact. The net income rises from $674 million to peak levels of $1,772 million, indicating strengthened profitability.
- Overall Financial Performance Insights
- The company displays strong and sustained revenue growth, primarily driven by subscription sales, with operational scaling evidenced by expanding gross profit and operating income. Increased investment in research, marketing, and administration indicates a strategic focus on growth and innovation. While operating expenses and tax variability introduce some volatility, the overall financial trajectory points to improved profitability and margin strength over the period.