Common-Size Income Statement
Quarterly Data

Adobe Inc., common-size consolidated income statement (quarterly data)

3 months ended:	Mar 1, 2024	Dec 1, 2023	Sep 1, 2023	Jun 2, 2023	Mar 3, 2023	Dec 2, 2022	Sep 2, 2022	Jun 3, 2022	Mar 4, 2022	Dec 3, 2021	Sep 3, 2021	Jun 4, 2021	Mar 5, 2021	Nov 27, 2020	Aug 28, 2020	May 29, 2020	Feb 28, 2020	Nov 29, 2019	Aug 30, 2019	May 31, 2019	Mar 1, 2019	Nov 30, 2018	Aug 31, 2018	Jun 1, 2018	Mar 2, 2018
Subscription	94.87%	94.35%	94.70%	93.79%	93.94%	93.52%	93.12%	92.80%	92.87%	92.75%	92.94%	91.79%	91.78%	90.98%	91.41%	90.51%	88.39%	89.80%	89.85%	89.50%	88.62%	88.62%	88.23%	87.60%	86.26%
Product	2.30%	2.26%	1.96%	2.70%	2.58%	2.54%	2.84%	3.33%	3.40%	3.11%	3.02%	3.99%	3.97%	3.71%	3.38%	4.09%	4.63%	5.58%	5.55%	5.57%	6.56%	6.10%	6.51%	6.88%	8.25%
Services and other	2.84%	3.39%	3.33%	3.51%	3.48%	3.93%	4.04%	3.88%	3.73%	4.14%	4.04%	4.22%	4.25%	5.32%	5.21%	5.40%	6.99%	4.61%	4.60%	4.93%	4.82%	5.28%	5.26%	5.52%	5.48%
Revenue	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Subscription	-8.78%	-10.00%	-9.14%	-9.05%	-9.32%	-9.50%	-9.32%	-9.35%	-9.22%	-9.20%	-8.74%	-8.55%	-8.30%	-8.27%	-8.74%	-8.60%	-8.86%	-11.17%	-10.72%	-10.80%	-11.07%	-10.43%	-8.69%	-8.49%	-7.92%
Product	-0.10%	-0.12%	-0.14%	-0.17%	-0.17%	-0.18%	-0.18%	-0.21%	-0.23%	-0.29%	-0.25%	-0.23%	-0.26%	-0.29%	-0.31%	-0.29%	-0.23%	-0.30%	-0.32%	-0.34%	-0.47%	-0.44%	-0.50%	-0.49%	-0.62%
Services and other	-2.51%	-2.44%	-2.58%	-2.66%	-2.71%	-2.87%	-2.82%	-2.74%	-2.56%	-2.85%	-2.87%	-2.79%	-2.89%	-3.94%	-4.19%	-4.38%	-5.53%	-3.64%	-3.63%	-3.70%	-3.74%	-3.71%	-3.70%	-3.84%	-3.91%
Cost of revenue	-11.39%	-12.56%	-11.86%	-11.88%	-12.20%	-12.55%	-12.32%	-12.29%	-12.01%	-12.34%	-11.87%	-11.58%	-11.45%	-12.50%	-13.24%	-13.27%	-14.62%	-15.11%	-14.68%	-14.85%	-15.27%	-14.58%	-12.90%	-12.82%	-12.45%
Gross profit	88.61%	87.44%	88.14%	88.12%	87.80%	87.45%	87.68%	87.71%	87.99%	87.66%	88.13%	88.42%	88.55%	87.50%	86.76%	86.73%	85.38%	84.89%	85.32%	85.15%	84.73%	85.42%	87.10%	87.18%	87.55%
Research and development	-18.12%	-17.61%	-18.02%	-18.19%	-17.77%	-17.08%	-17.48%	-16.83%	-16.45%	-15.99%	-16.54%	-15.96%	-15.88%	-16.30%	-17.55%	-17.01%	-17.21%	-16.71%	-17.28%	-17.34%	-17.86%	-16.88%	-17.41%	-17.04%	-16.78%
Sales and marketing	-26.09%	-27.10%	-27.34%	-27.93%	-27.95%	-28.66%	-28.56%	-28.43%	-27.17%	-27.52%	-27.14%	-27.98%	-26.86%	-27.48%	-27.66%	-28.80%	-27.73%	-26.79%	-28.66%	-30.93%	-30.05%	-29.36%	-29.25%	-29.44%	-27.94%
General and administrative	-6.79%	-7.37%	-7.22%	-7.41%	-7.11%	-7.51%	-7.20%	-6.63%	-6.31%	-6.67%	-6.73%	-6.68%	-7.43%	-7.10%	-7.13%	-7.16%	-8.77%	-7.55%	-7.74%	-7.99%	-8.31%	-8.62%	-8.03%	-8.11%	-8.20%
Acquisition termination fee	-19.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Amortization of intangibles	-0.81%	-0.83%	-0.86%	-0.87%	-0.90%	-0.93%	-0.97%	-0.96%	-0.99%	-0.97%	-1.09%	-1.15%	-1.15%	-1.14%	-1.27%	-1.28%	-1.36%	-1.43%	-1.52%	-1.57%	-1.79%	-1.34%	-1.04%	-0.78%	-0.82%
Operating expenses	-71.11%	-52.91%	-53.44%	-54.40%	-53.73%	-54.19%	-54.21%	-52.85%	-50.92%	-51.14%	-51.51%	-51.76%	-51.32%	-52.02%	-53.61%	-54.25%	-55.06%	-52.48%	-55.20%	-57.84%	-58.01%	-56.19%	-55.74%	-55.37%	-53.74%
Operating income	17.50%	34.53%	34.70%	33.72%	34.07%	33.26%	33.48%	34.86%	37.07%	36.52%	36.62%	36.66%	37.23%	35.48%	33.15%	32.48%	30.31%	32.42%	30.13%	27.31%	26.71%	29.24%	31.37%	31.82%	33.80%
Interest expense	-0.52%	-0.55%	-0.55%	-0.54%	-0.69%	-0.62%	-0.63%	-0.64%	-0.66%	-0.68%	-0.69%	-0.73%	-0.77%	-0.79%	-0.87%	-0.90%	-1.07%	-1.22%	-1.39%	-1.48%	-1.56%	-1.13%	-0.92%	-0.93%	-0.96%
Investment gains (losses), net	0.35%	0.08%	0.12%	0.10%	0.02%	0.09%	-0.14%	-0.18%	-0.21%	-0.10%	0.18%	0.21%	0.13%	0.18%	0.31%	0.00%	-0.10%	0.16%	0.13%	-0.03%	1.69%	-0.13%	0.10%	0.05%	0.14%
Other income (expense), net	1.35%	1.76%	1.37%	0.98%	0.92%	0.80%	0.14%	-0.02%	0.00%	-0.02%	-0.08%	0.00%	0.10%	0.09%	0.28%	0.38%	0.58%	0.63%	0.58%	0.09%	0.16%	0.39%	0.07%	0.53%	0.80%
Non-operating income (expense), net	1.18%	1.29%	0.94%	0.54%	0.26%	0.27%	-0.63%	-0.84%	-0.87%	-0.80%	-0.58%	-0.52%	-0.54%	-0.53%	-0.28%	-0.51%	-0.58%	-0.43%	-0.68%	-1.41%	0.29%	-0.87%	-0.75%	-0.35%	-0.01%
Income before income taxes	18.68%	35.82%	35.64%	34.26%	34.33%	33.52%	32.84%	34.02%	36.20%	35.72%	36.04%	36.14%	36.70%	34.96%	32.87%	31.97%	29.73%	31.99%	29.44%	25.90%	27.00%	28.37%	30.61%	31.47%	33.79%
(Provision for) benefit from income taxes	-6.72%	-6.44%	-6.95%	-7.37%	-7.54%	-7.54%	-7.22%	-7.16%	-6.50%	-5.72%	-5.24%	-7.04%	-4.40%	30.75%	-3.26%	3.20%	1.16%	-3.52%	-1.47%	-2.85%	-1.08%	-0.85%	-1.53%	-1.26%	-5.74%
Net income	11.96%	29.38%	28.69%	26.89%	26.79%	25.99%	25.63%	26.86%	29.70%	30.00%	30.80%	29.10%	32.29%	65.71%	29.61%	35.17%	30.90%	28.47%	27.97%	23.05%	25.92%	27.52%	29.08%	30.21%	28.05%

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Income statement item	Description	The company
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Adobe Inc. operating income as a percentage of revenue decreased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Adobe Inc. income before income taxes as a percentage of revenue increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Adobe Inc. net income as a percentage of revenue increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.

Adobe Inc. (NASDAQ:ADBE)

Common-Size Income StatementQuarterly Data

Common-Size Income Statement
Quarterly Data