What is the main purpose of this 8-K filing?

This 8-K filing serves to announce Adobe's financial results for its second fiscal quarter ended May 29, 2015, and to furnish a press release containing these results and further financial details.

What are non-GAAP financial measures and why does Adobe use them?

Adobe uses non-GAAP financial measures to provide a supplemental view of its operational performance. These measures exclude certain items like stock-based compensation, restructuring charges, and amortization of purchased intangibles, which management believes do not reflect the core profitability of the business operations. They are used internally for budgeting and resource allocation and are believed to offer greater transparency for investors.

How should investors interpret the non-GAAP financial information provided?

Investors should interpret the non-GAAP financial information as supplementary to the GAAP (Generally Accepted Accounting Principles) results. Adobe explicitly states that these non-GAAP measures have limitations, do not reflect all GAAP amounts, and should be used in conjunction with the corresponding GAAP measures for a complete understanding of the company's financial results.

What specific items are excluded from Adobe's non-GAAP measures?

Adobe excludes several items from its non-GAAP measures, including: stock-based and deferred compensation expenses, restructuring and other charges, amortization of purchased intangibles, investment gains and losses, and certain income tax adjustments. These exclusions are detailed in the filing and are based on management's assessment of core operational profitability.

ADBE 8-K: Earnings & Results

Summary

Adobe Inc. (ADBE) filed an 8-K on June 16, 2015, to report its financial results for the second fiscal quarter ended May 29, 2015. The filing highlights record revenue and provides details on the company's use of non-GAAP financial measures. Management believes these non-GAAP measures, which exclude items such as stock-based compensation, restructuring charges, and amortization of purchased intangibles, offer a more meaningful view of operational performance and facilitate comparisons with historical results and peers. Investors are encouraged to review these non-GAAP figures in conjunction with the accompanying GAAP results to gain a comprehensive understanding of Adobe's financial health and operational efficiency.

Key Highlights

1Adobe announced its second fiscal quarter 2015 financial results on June 16, 2015.
2The company is furnishing a press release (Exhibit 99.1) with its financial results, which includes non-GAAP financial measures.
3Non-GAAP measures exclude stock-based compensation, restructuring charges, amortization of purchased intangibles, investment gains/losses, and income tax adjustments.
4Adobe uses these non-GAAP measures for internal budgeting, resource allocation, and to provide supplemental information on operational performance.
5The company believes these non-GAAP measures enhance transparency and allow investors to better understand management's decision-making and compare results across periods and with competitors.
6The press release is furnished and not deemed filed for the purposes of the Securities Exchange Act of 1934, and its contents are not incorporated by reference into any other filing unless expressly stated.
7A long-term non-GAAP tax rate of 21% has been applied to non-GAAP financial results for fiscal 2014 and 2015.

ADOBE INC. 8-K Report, Financial Results (Jun 16, 2015)

Summary

Key Highlights

Frequently Asked Questions