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Adobe Financials Q2 2013

by June 19, 2013

Strong results? Really? The charts here say otherwise.
Adobe Financials Q2 2013, just released!

  • Sales flat QoQ, down YoY; gross margin improved a bit QoQ in Q2 2013 versus Q1.
  • Operating expenses maintain high, on behalf of net income that stays much lower as compared with 2011 and 2012.
  • Apparently the strong push for “Digital Media”, “Digital Marketing” and “Creative Cloud” is eating up Adobe profits fast.
  • Management reported “strong Adobe Marketing Cloud bookings growth”, let’s assume for the time being the cloud push might be a successful bet.
  • So far the decision to discontinue perpetual licenses impacted sales (down), earnings (down), long term liabilities (up).

The charts below are self-explanatory. More details are available by clicking the links below charts. Also read: Adobe Financials for Q1 2013 – Milking the digital cash.

Adobe Financials Q2 2013 – Sales, earnings, balance sheet, cash flows


Income statement overview
Detailed revenues and expenses

  • Adobe sales, costs, margins, and net income

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing how revenues are converted into earnings and profits:
    Sales, cost of sales, gross margin, operating expenses, operating margin, non-operating expenses, income taxes, exceptional items, preferred distributions, net income.

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  • Adobe operating income

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing detailed revenues and costs chart, converging to earnings and net profits.

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Q2 2013 Financial Highlights by Adobe:
• Revenue $1,011 million, within targeted range of $975 million … $1,025 million.
• Adobe ended Q2 with 700,000 paid Creative Cloud subscriptions, up 221,000 over Q1 2013.
• Adobe Marketing Cloud Q2 revenue was $229.6 million, with bookings growth over 25%.


Balance sheet
Current assets
Long-term assets
Current liabilities
Long-term liab.

  • Adobe balance sheet overview: assets and liabilities

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing the overall financial strength of the company in the form of a balance sheet chart:
    Current assets, long term assets, current liabilities, long-term liabilities, equity, are all plotted here as an overview chart.

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  • Adobe current assets details

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing the details on the most liquid (current) assets:
    cash, investments, accounts receivable, inventory, deferred tax, others.

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  • Adobe property, equity, intangibles

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing non-current (capital) assets details:
    Property plant and equipment, equity, goodwill, intangibles, others.

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  • Adobe accounts payable, debt, taxes due

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing current liabilities in full details:
    Payables, debt, taxes, others.

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  • Adobe debt, pensions, and other long term liabilities

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing long term liabilities in full detail:
    Bebt, taxes, and others.

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Cash flow overview
Operating cash flow
Investment cash flow
Financing cash flow

  • Adobe cash flow overview: operational, financial, investment

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing the overview of cash flows:
    Net cash flow, as dividend in operating, financing, and investment cash flow.

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  • Adobe current assets details

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing operating cash flows (cash flow generated by operating activities):
    Net income, adjustments, accounts payable, accounts receivable, inventory.

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  • Adobe property, equity, intangibles

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing financing cash flows (cash flow from financing activities):
    Debt, stock, dividend.

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  • Adobe accounts payable, debt, taxes due

    Adobe financials for Q2 2013
    Here you see a nicely-colored chart showing the investment cash flows (cash flow from investing activities):
    Property plant and equipment, investments, securities, in full detail.

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Executive Quotes at Adobe Q2 2013 earnings release and conference call
“Our Q2 results reflect our leadership position in Digital Media and Digital Marketing,” said Shantanu Narayen, president and chief executive officer, Adobe.
“Creative Cloud is revolutionizing the creative process, and Adobe Marketing Cloud is quickly becoming the platform of choice for the world’s leading brands, advertising agencies and media companies.”
“Adoption of Creative Cloud continued to accelerate and we drove strong Adobe Marketing Cloud bookings growth in Q2,” said Mark Garrett, executive vice president and chief financial officer, Adobe.

Data sources for Adobe financials for Q2 2013:
All charts are interactive.
Also read: Adobe Financials for Q1 2013.


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