Summary
Adobe Inc. (ADBE) filed an 8-K on March 15, 2018, to announce its financial results for the first fiscal quarter ended March 2, 2018. The report primarily furnishes a press release detailing record revenue for the quarter, highlighting strong performance. Investors should note that Adobe provided both GAAP and non-GAAP financial measures. The company emphasizes its use of non-GAAP measures to offer supplemental insights into operational performance, excluding items such as stock-based compensation, restructuring charges, and amortization of purchased intangibles, which management uses for internal decision-making and budgeting.
Key Highlights
- 1Adobe announced its first fiscal quarter 2018 financial results on March 15, 2018.
- 2The company reported record revenue for the quarter, indicating strong top-line growth.
- 3The 8-K filing includes a press release furnished as Exhibit 99.1, containing detailed financial results.
- 4Adobe presented both GAAP and non-GAAP financial measures in its earnings announcement.
- 5The company clearly outlines the adjustments made to calculate non-GAAP financial measures, such as excluding stock-based compensation, restructuring charges, and amortization of purchased intangibles.
- 6Adobe's management believes non-GAAP measures provide meaningful supplemental information for assessing operational performance and facilitating comparisons.
- 7The filing serves as an announcement of financial results and does not typically include forward-looking guidance beyond what is in the furnished press release.
Frequently Asked Questions
This 8-K filing's primary purpose is to announce Adobe Inc.'s financial results for its first fiscal quarter ended March 2, 2018, by furnishing a press release with these results.
Yes, Adobe provides both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures in its earnings announcement. The company believes non-GAAP measures offer supplemental insights into its operational performance.
Adobe typically excludes expenses such as stock-based and deferred compensation, restructuring and other charges, amortization of purchased intangibles and technology license arrangements, investment gains and losses, and certain income tax adjustments when calculating its non-GAAP financial measures.
Adobe uses non-GAAP financial measures because management believes they provide meaningful supplemental information regarding operational performance, aid in budgeting and resource allocation, and allow for better comparisons to historical results and peer companies. They are used in conjunction with GAAP measures to give a more comprehensive view.