Adobe has reported a record-breaking fiscal year 2023, with revenues reaching $19.41 billion, marking a 10 percent year-over-year growth. The software giant's performance was driven by strong momentum across its Creative Cloud, Document Cloud, and Experience Cloud offerings, according to Shantanu Narayen, Adobe's chair and CEO.

"Adobe drove record revenue of $19.41 billion in FY23 and 17 percent year-over-year EPS growth, with strong momentum across Creative Cloud, Document Cloud and Experience Cloud," Narayen stated.

The company's fourth quarter alone saw revenue of $5.05 billion, a 12 percent increase compared to the same period last year. Diluted earnings per share were $3.23 on a GAAP basis and $4.27 on a non-GAAP basis. Adobe's CFO, Dan Durn, highlighted the company's robust performance, stating, "Adobe's remarkable performance in FY23 drove world-class margins and operating cash flows of $7.30 billion."

Adobe's Digital Media segment was a significant contributor to the company's success, with Q4 revenue of $3.72 billion, marking a 13 percent year-over-year growth. The Creative revenue grew to $3.00 billion, a 12 percent year-over-year growth, while Document Cloud revenue hit $721 million, a 16 percent year-over-year growth.

For the entire fiscal year, the Digital Media segment revenue was $14.22 billion, an 11 percent year-over-year growth. The Creative revenue grew to $11.52 billion, a 10 percent year-over-year growth, and Document Cloud revenue was $2.70 billion, a 13 percent year-over-year growth.

The Digital Experience segment also performed well, with Q4 revenue of $1.27 billion, a 10 percent year-over-year growth. The subscription revenue for this segment was $1.12 billion, a 12 percent year-over-year growth.

Looking ahead, Adobe has set ambitious targets for fiscal year 2024, including total revenue of $21.30 billion to $21.50 billion, and Digital Media net new ARR of approximately $1.90 billion.