Analysis of Revenues
Revenues as Reported
Adobe Inc., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29).
The annual revenue data reveals consistent growth across most segments over the analyzed period. The total revenue demonstrates a steady upward trajectory, increasing from $11,171 million in 2019 to $21,505 million in 2024.
- Creative Cloud
- This segment shows significant and continuous growth, rising from $6,482 million in 2019 to $12,682 million in 2024. This nearly doubling of revenue over six years signals strong demand and successful expansion of this product line.
- Document Cloud
- Document Cloud revenues also exhibit robust growth, increasing from $1,225 million in 2019 to $3,182 million in 2024. The steady year-over-year increases highlight sustained market acceptance and potential expansion opportunities.
- Digital Media
- As a combined figure likely encompassing Creative Cloud and Document Cloud, Digital Media reveals substantial growth from $7,707 million in 2019 to $15,864 million in 2024, consistent with the sum of its components and reinforcing the importance of digital products in overall revenue.
- Digital Experience
- This segment shows moderate but steady growth, moving from $3,206 million in 2019 to $5,366 million in 2024. Though growth rates are lower compared to digital media segments, this steady increase suggests a developing and increasingly valuable revenue stream.
- Publishing and Advertising
- Contrasting with other segments, Publishing and Advertising revenue displays a declining trend after peaking at $510 million in 2020 and subsequently decreasing to $275 million by 2024. This decline may indicate a strategic shift away from this area or diminishing demand.
Overall, the data reflects a strategic focus on expanding digital products and services, particularly within Creative Cloud and Document Cloud, which collectively drive the majority of revenue growth. The decrease in Publishing and Advertising revenue marks a notable exception and may represent a deliberate reallocation of resources towards more profitable segments. The steady increase in Digital Experience also indicates successful development in emerging digital domains.