Adobe CEO Shantanu Narayen: 'We had a very strong Q3 across all aspects of the business'

Published: Sep 11, 2024 Duration: 00:03:32 Category: News & Politics

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7% SHARING SURGING TODAY. >> UP SOME 17% JUST ABOUT IN OVERTIME THANKS ADOBE SHARES FALLING IN OVERTIME AFTER RESULTS BEATING ON BOTH LINES. GUIDANCE THOUGH COMING IN SHORT OF EXPECTATIONS. JOINING US NOW AHEAD OF THE CONFERENCE CALL WITH ANALYSTS IS THE ADOBE CEO. GOOD TO SEE YOU. STRONG PERFORMANCE IN THE TOP AND BOTTOM LINE IN Q3 THAT NET NEW ARR IN PARTICULAR FOR DIGITAL MEDIA JUMPS OUT. BUT NOW I'M GOING TO WANT TO GET TO THIS GUIDE. SET UP THE QUARTER BUT ARE YOU FEELING IFFY ABOUT THE HOLIDAYS? >> WELL, JON, THANKS FOR HAVING ME, FIRST, ON YOUR SHOW. AS ALWAYS, WHEN WE THINK ABOUT DISSECTING THE BUSINESS, WE LOOK AT WHAT THE SECOND HALF PERFORMANCE WAS AND ON OUR Q2 EARNINGS CALL, WE ACTUALLY RAISED THE TARGETS WE HAD A VERY STRONG Q3 ACROSS EVERY ASPECT OF THE BUSINESS AS YOU POINTED OUT. NET NEW DIGITAL MEDIA ARR RECORD FOR Q3 WITH OVER 500 MILLION OF NET NEW ARR. ACROBAT CONTINUES TO SURGE ALONG. CREATIVE WE SAID WE WOULD EXPECT TO SEE CREATIVE ARR ALSO YEAR-OVER-YEAR SHOW GROWTH, WHICH IT DID AND DIGITAL MARKETING. AGAIN, STRONG SUBS REVENUE AS WE LOOK AT THE REST OF THE YEAR, NOTHING'S CHANGED AS IT RELATES TO THE INNOVATION ROADMAP THAT WE HAVE AND RELATIVE TO THE SECOND HALF TARGET THAT IS WE ARE GIVEN, WE'RE ON TRACK TO MEET AND EXCEED ALL OF THEM >> TO MY EYE, THE Q4 DIGITAL MEDIA, 550 MILLION, THAT LOOKS STRONG AS WELL SO ARE THERE AREAS WHERE YOU'RE CAUTIOUS QUESTIONING WHETHER IT IS ON THE EXPERIENCE SIDE, WHETHER IT IS ON THE DOCUMENTS SIDE. HOW IS THE AI ADOPTION GOING WITH THE CREDITS IN FIRE FLY ARE THOSE CONVERTING TO MORE PAID IN THAT AR NUMBER >> WELL, JON, HOPEFULLY WE'LL SEE YOU AT MAX AS YOU KNOW, MAX IS COMING UP IN MIAMI AND WE HAVE AN INCREDIBLE SHOW AGAIN PLANNED WHEN YOU LOOK AT AI SPECIFICALLY AND WHAT I'VE ALWAYS SAID IS IT'S ALL ABOUT INFERENCE AND AI. I DON'T KNOW IF ANY OTHER LARGE COMPANY THAT'S BEEN DEMONSTRATING THE AMOUNT OF INNOVATION ROADMAP ACROBAT ASSISTANT CONTINUES TO DO WELL. WHERE YOU CAN HAVE A CONVERSATIONAL INTERFACE WITH THE TRILLIONS OF PDFs OUT THERE AS IT RELATES TO OUR IMAGING FIRE FLY MODELS. WE'VE UPGRATED PHOTO SHOP TO IMAGE MODEL THREE. WE HAVE OVER 12 BILLION GENERATIONS ON FIRE FLY WITH THE FASTEST AMOUNT IN THE LAST MONTH ALSO DRIVEN BY WHAT WE SEE IN LIGHT ROOM WE HAVE A MODEL AND ILLUSTRATOR USERS WHO ARE CREATING LOGOS AND OTHER BRAND ASPECT JUST YESTERDAY, WE SNEAKED WHAT WE ARE DOING WITH THE FIRE FLY VIDEO MODEL AS WELL AS THE VIDEO ABILITY TO CONTROL THAT WITH OTHER APPLICATIONS YOU'RE SEEING THE INFERENCE, WHICH IS WHERE PEOPLE ARE ACTUALLY DERIVING VALUE ALSO GO UP LAST BUT NOT LEAST ON THE DIGITAL EXPERIENCE SIDE AS WE HAVE DELIVERED AI ASSISTANT FOR THE ADOBE EXPEDIENCE PLATFORM AND CLOUD, THAT'S WHERE PEOPLE, THEY'RE CREATING MORE CAMPAIGNS. THEY'RE CREATING MORE CONTENT AND THEY'RE CREATING PERSONALIZED EXPERIENCES FOR THEIR CUSTOMERS. FROM MY PERSPECTIVE,

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