Adobe's massive 2022 earnings show that as much as photographers hate subscription models, they're too profitable for any company to willingly move away from them.
for the Silicon Valley-based software company are, in a word, impressive. Adobe achieved revenue of $4.53 billion in its fourth quarter of fiscal year 2022, which represents a 10% year-over-year growth. Additionally, record cash flows from operations were $2.33 billion, and the Digital Media segment — the part of the business that contains all of Adobe’s creative applications — pulled a revenue of $3.30 billion or 14% YoY growth.
“Adobe drove record revenue and operating income in fiscal 2022,” Shantanu Narayen, chairman and CEO of Adobe who has overseen the company’s wildly successful shift to subscriptions, says. “Our market opportunity, unparalleled innovation, operational rigor and exceptional talent position us well to drive our next decade of growth.”
“Adobe’s outstanding financial performance in fiscal 2022 drove record operating cash flows of $7.84 billion,” said Dan Durn, executive vice president and CFO, Adobe. “Strong demand for our offerings, industry-leading innovation and track record of top- and bottom-line growth set us up to capture the massive opportunities in 2023 and beyond.”
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