Adobe's (ADBE) total revenue for fiscal year 2024 reached $21.505 billion, marking an 11% increase compared to $19.409 billion in fiscal year 2023. This growth was driven by strong performance across all geographic regions and segments, despite a net decrease in revenue of approximately $45 million due to foreign currency fluctuations. The Americas contributed 60% of total revenue, EMEA 26%, and APAC 14%, with EMEA showing the highest growth at 14% year-over-year.

Subscription revenue, which constitutes the majority of Adobe's revenue, grew by 12% year-over-year, reaching $20.521 billion in fiscal 2024. The Digital Media segment, the largest contributor, saw a 12% increase to $15.547 billion, while the Digital Experience segment also grew by 12%, reaching $4.864 billion. However, the Publishing and Advertising segment experienced a 4% decline to $110 million.

Adobe's net income for fiscal 2024 was $5.560 billion, a slight increase from $5.428 billion in fiscal 2023. This resulted in a basic net income per share of $12.43 and a diluted net income per share of $12.36, compared to $11.87 and $11.82, respectively, in the prior year. The company's gross profit margin remained robust, supported by its high-margin subscription business.

Operating expenses increased significantly in fiscal 2024, rising to $12.406 billion from $10.405 billion in fiscal 2023. This was primarily due to a $1 billion acquisition termination fee and higher investments in research and development (up 14%) and sales and marketing (up 8%). Despite this, operating income grew slightly to $6.741 billion, reflecting Adobe's ability to manage costs effectively while driving revenue growth.

Cash flow from operating activities was strong at $8.056 billion in fiscal 2024, up from $7.302 billion in the prior year. This increase was driven by higher net income and favorable changes in working capital. However, Adobe's cash flow from financing activities showed a significant outflow of $7.724 billion, primarily due to $9.5 billion in stock repurchases, reflecting the company's commitment to returning value to shareholders.

Adobe's Digital Media segment, which includes flagship products like Photoshop and Acrobat, accounted for 74% of total revenue in fiscal 2024. The Digital Experience segment contributed 25%, driven by demand for analytics and commerce solutions. The Publishing and Advertising segment, while a smaller contributor, saw a decline in revenue, reflecting challenges in legacy product lines.

Stock-based compensation costs increased to $1.833 billion in fiscal 2024, up from $1.718 billion in fiscal 2023. The company also reported $2.93 billion in unrecognized compensation costs related to unvested stock-based awards, which will be recognized over an average period of 2.19 years. This highlights Adobe's continued investment in talent retention and employee incentives.

Adobe's geographic revenue distribution showed consistent growth across all regions. The Americas remained the largest market, contributing $12.891 billion (up 11%), followed by EMEA at $5.554 billion (up 14%), and APAC at $3.060 billion (up 6%). These results underscore Adobe's strong global presence and ability to capitalize on regional opportunities.