Adobe has revealed its financial targets for fiscal year 2023 with a revenue guidance of $19.1 billion – $19.3 billion — at its Adobe MAX Creativity Conference.
Adobe is targeting revenue of $13.9 billion – $14 billion from Digital Media segment.
Adobe is targeting revenue of $4.92 billion – $5.02 billion from Digital Experience segment.
Adobe is targeting revenue of $4.37 billion – $4.42 billion from Digital Experience subscription business.
Adobe is reaffirming its current fourth quarter fiscal year 2022 financial targets.
“Our strategy to empower everyone to imagine and express their ideas, create the world’s best content and applications and power personalized digital experiences represents a massive market opportunity that will drive Adobe’s next decade of growth,” said Shantanu Narayen, chairman and CEO of Adobe, in a news statement.
Adobe said changes to foreign exchange rates are expected to: result in 4 percent headwind to total revenue growth rates in fiscal year 2023; Result in a $700 million downward revaluation to Adobe’s total Digital Media annualized recurring revenue (ARR) balance. Adobe is targeting Digital Media net new ARR of $1.65 billion during the fiscal 2023.