ADBE Q1 2024 Earnings — Income Statement Breakdown
For its Q1 2024 period (ending 2024-03-01), ADBE reported revenue of $5.2B, gross profit of $4.6B (88.6% gross margin), operating income of $907M, and net income of $620M (12.0% net margin). The flow of revenue into costs and profit is visualized below.
What changed
ADBE was profitable; revenue grew 2.7% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +2.7% | −58.2% | −17.4 pp |
Consensus estimate data is not available for this report.
ADBE Q1 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $5.2B | 100% |
| Cost of Revenue | −$590M | 11.4% |
| Gross Profit | $4.6B | 88.6% |
| Research & Development | −$939M | 18.1% |
| Selling, General & Administrative | −$1.7B | 32.9% |
| Other Operating Expenses | −$1.0B | 20.1% |
| Operating Income | $907M | 17.5% |
| Interest Expense | −$27M | 0.5% |
| Other Income, net | $61M | 1.2% |
| Income Tax Expense | −$348M | 6.7% |
| Net Income | $620M | 12.0% |
Source: original SEC filing (filed 2024-03-14). Accession 0000796343-24-000057. Data normalized by EarningsFyi.