Adobe targets 20 percent revenue growth for FY 2018
Adobe headquarters in San Jose, California.
Adobe shared its targets for the 2018 fiscal year on Wednesday, projecting year-over-year revenue growth of 20 percent and earnings growth of 30 percent.
The figures were shared at a briefing with investors and financial analysts at its Adobe MAX user conference. In a statement, Adobe CEO Shantanu Narayen said the targets "reflect our continued momentum and leadership" in helping people and businesses deliver "digital experiences."
According to market research information, the company's total addressable market will amount to about $83 billion by 2020, executives plan on sharing.
For FY 2018, Adobe is aiming to achieve approximately $8.7 billion in revenue. The company expects to see the most growth (23 percent year-over-year) in its digital media segment. It projects 20 percent growth in its Adobe Experience Cloud subscription revenue, which includes revenue from SaaS, managed service and term offerings for Adobe Analytics Cloud and Adobe Marketing Cloud, as well as total revenue for Adobe Advertising Cloud. Total revenue from the Experience Cloud should grow at a slower 15 percent.
The company says it's aiming for GAAP earnings per share of approximately $4.40 and non-GAAP earnings per share of approximately $5.50
Adobe executives are also reaffirming their Q4 2017 revenue and earnings per share targets. The company says it's on track to achieve non-GAAP EPS of $1.15 on revenue of $1.95 billion. Last month, Adobe reported Q3 non-GAAP earnings of $1.10 a share on revenue of $1.84 billion.