Adobe has reported its financial results for the fourth quarter of the fiscal year 2023, ending on December 1st. The company achieved record-breaking revenue of $5.048 billion, marking a 12% increase compared to the same period last year. According to the Generally Accepted Accounting Principles (GAAP), Adobe also recorded a net profit of $1.483 billion.
Shantanu Narayen, the CEO of Adobe, commented on the price adjustments for certain subscription products, acknowledging that it may lead customers to seek more affordable alternatives. However, he reassured that the overall business is still growing. Analysts have expressed concerns over the potential impact of the price adjustments.
Narayen also mentioned the potential acquisition of Figma, a deal that is currently pending approval from regulatory authorities in both Europe and the United States. Although there is no specific timeline at the moment, it is believed that a conclusion will be reached soon.
TLDR: Adobe’s Q4 2023 financial report shows a 12% increase in revenue and a net profit of $1.483 billion. CEO Shantanu Narayen addresses price adjustments and potential acquisition of Figma, with analysts expressing concerns and pending regulatory approval.
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