Adobe Inc.

Good day, and welcome to the Q3 FY24 Adobe Earnings Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Jonathan Voss, VP of Investor Relations. Please go ahead.

Good afternoon, and thank you for joining us. With me on the call today are Shantanu Narayan, Adobe's Chair and CEO, David Woodwani, President of Digital Media, Anil Chakravarty, President of Digital Experience, and Dan Dern, Executive Vice President and CFO. On this call, which is being recorded, we will discuss Adobe's third quarter fiscal year 2024 financial results. You can find our press release as well as PDFs of our prepared remarks and financial results on Adobe's Investor Relations website. The information discussed on this call, including our financial targets and product plans, is as of today, September 12th, and contains forward-looking statements that involve risk, uncertainty, and assumptions. Actual results may differ materially from those set forth in these statements. For more information on those risks, please review today's earnings release and Adobe's SEC filings. On this call, we will discuss GAAP and non-GAAP financial measures. Our reported results include GAAP growth rates as well as constant currency growth rates. During this presentation, Adobe's executives will refer to constant currency growth rates unless otherwise stated. Non-GAAP reconciliations are available in our earnings release and on Adobe's Investor Relations website. I will now turn the call over to Shantanu.

Thanks, Jonathan. Good afternoon, and thank you for joining us. Adobe had an outstanding third quarter. We saw strength across Creative Cloud, Document Cloud, and Experience Cloud, achieving revenue of $5.41 billion, representing 11% year-over-year growth. Gap earnings per share for the quarter was 376%, and non-GAAP earnings per share was 465, representing 23% and 14% year-over-year growth, respectively. Our success reflects our strong execution against an ambitious innovation agenda to deliver value to our customers. The product advances we've launched in the past 18 months are delighting a huge and growing universe of users and enterprises empowering them to unleash their creativity, accelerate document productivity, and power their digital businesses. Our vision revolves around Adobe's deep technology platforms across Creative Cloud, Document Cloud, and Experience Cloud, which, when integrated, provide significant differentiation and value. We're amplifying creativity and productivity by enabling the convergence of products like Photoshop, Express, and Acrobat as knowledge workers and creatives seek to make content more compelling and engaging. We're bringing together content creation and production, workflow and collaboration, and campaign activation and insights across Creative Cloud, Express, and Experience Cloud. New offerings include Adobe Gen Studio and Firefly services, empower companies to address personalized content creation at scale, with agility and enable them to address their content supply chain challenges. Adobe's customer-centric approach to AI is highly differentiated across data, models, and interfaces. We train our Firefly models on data that allows us to offer customers a solution designed to be commercially safe. We have now released Firefly models for imaging, vector, and design and just previewed a new Firefly video model. Our greatest differentiation comes at the interface layer with our ability to rapidly integrate AI across our industry-leading product portfolio, making it easy for customers of all sizes to adopt and realize value from AI. Firefly-powered features in Adobe Photoshop, Illustrator, Lightroom, and Premiere Pro help creators expand upon their natural creativity and accelerate productivity. Adobe Express is a quick and easy create-anything application, unlocking creative expression for millions of users. Acrobat AI Assistant helps extract greater value from PDF documents. Adobe Experience Platform AI Assistant empowers brands to automate workflows and generate new audiences and journeys. Adobe Gen Studio brings together content and data, integrating high-velocity creative expression with the enterprise activation needed to deliver personalization at scale. Overall, we're delighted to see customer excitement and adoption for our AI solutions continue to grow, and we have now surpassed $12 billion Firefly-powered generations across Adobe tools. I'll now turn it over to David to discuss the momentum in our digital media business.