Adobe Inc. operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.

Adobe Inc.

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Income Statement	Nov '25	Aug '25	May '25	Feb '25	Nov '24	Aug '24
Total Revenues	6,194	5,988	5,873	5,714	5,606	5,408
Total Revenues %Chg	10.5%	10.7%	10.6%	10.3%	11.1%	10.6%
Subscription
Product
Services and Support
Services and Other
Cost of Sales	649	642	638	622	616	554
Subscription
Product
Services and Support
Services and Other
Gross Profit	5,545	5,346	5,235	5,092	4,990	4,854
Gross Profit
Gross Profit Margin	89.5%	89.3%	89.1%	89.1%	89%	89.8%
Selling, General & Administrative Expenses	2,149	2,047	2,003	1,862	1,992	1,797
Sales and Marketing
General and Administrative
Depreciation & Amortization Expenses	37	38	41	41	42	43
Amortization of Intangibles
Research & Development Expenses	1,098	1,088	1,082	1,026	999	1,022
Research and Development
Other Operating Expenses	—	—	—	—	—	—
Restructuring and Other Charges
Acquisition Termination Fee
Operating Profit	2,261	2,173	2,109	2,163	1,957	1,992
Operating Income
Operating Margin	36.5%	36.3%	35.9%	37.9%	34.9%	36.8%
Interest Expense	-66	-67	-68	-62	-50	-51
Interest Expense
Non-Operating Income	69	81	60	81	84	101
Investment Gains, Net
Other Income, Net
Total Non-Operating Income	3	14	-8	19	34	50
Income Before Provision for Income Taxes	2,264	2,187	2,101	2,182	1,991	2,042
Income Before Income Taxes
Provision for Income Taxes	408	415	410	371	308	358
Provision for Income Taxes
Consolidated Net Income	1,856	1,772	1,691	1,811	1,683	1,684
Net Income Attributable to Common Shareholders	1,856	1,772	1,691	1,811	1,683	1,684
Net Income
Basic EPS	4.5	4.2	4	4.2	3.8	3.8
Diluted EPS	4.5	4.2	3.9	4.1	3.8	3.8
Basic Weighted Average Shares Outstanding	417	423	428.2	436.2	441	445
Total Shares Outstanding	418.6	420	427	435	441	445
Diluted Weighted Average Shares Outstanding	417	424	428.9	437.6	443	448
EBITDA	2,445	2,381	2,318	2,380	2,175	2,205
Effective Tax Rate	18%	19%	19.5%	17%	15.5%	17.5%