8-KEarnings & ResultsExhibits & Filings

ADOBE INC. 8-K Report, Financial Results (Dec 12, 2019)

Filed December 12, 2019For Securities:ADBE

Summary

This 8-K filing by Adobe Inc. (ADBE) on December 12, 2019, primarily announces their financial results for the fourth quarter and fiscal year ended November 29, 2019. The report includes a press release furnished as an exhibit, which details both GAAP and non-GAAP financial performance. Investors should note that Adobe utilizes non-GAAP measures to provide supplemental insights into operational performance, excluding items such as stock-based compensation, amortization of intangibles, investment gains/losses, and certain income tax adjustments. The company emphasizes that these non-GAAP measures are not a substitute for GAAP but are used internally for budgeting and resource allocation, offering a clearer view of core profitability. This approach aims to enhance transparency for investors, allowing for better comparisons with historical results and peer companies by focusing on operational decision-making metrics.

Key Highlights

  • 1Adobe Inc. announced its fourth quarter and fiscal year 2019 financial results via a press release furnished as an exhibit.
  • 2The company provided both GAAP and non-GAAP financial measures in its earnings announcement.
  • 3Non-GAAP financial measures are used by Adobe to offer supplemental insights into operational performance.
  • 4Key exclusions from Adobe's non-GAAP measures include stock-based compensation, amortization of intangibles, investment gains/losses, and certain tax adjustments.
  • 5Adobe believes these non-GAAP measures aid in understanding core profitability and facilitate comparisons with historical results and competitors.
  • 6The press release includes details on how these non-GAAP measures are calculated and why they are deemed useful for investors and management.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Adobe Inc.'s financial results for its fourth quarter and fiscal year ended November 29, 2019, along with providing a press release that details these results.

Adobe uses non-GAAP financial measures, which exclude certain items like stock-based compensation, amortization of intangibles, investment gains/losses, and specific tax adjustments. They use these to provide a view of operational performance that they believe better reflects core profitability and aids in budgeting and investment decisions, offering supplemental information alongside GAAP results.

No, the non-GAAP measures are not in accordance with, or an alternative for, Generally Accepted Accounting Principles (GAAP). Adobe states that these measures may differ from those used by other companies and should be used in conjunction with, not as a replacement for, GAAP measures.

Adobe excludes stock-based and deferred compensation expenses, amortization of intangibles, investment gains and losses, and certain income tax adjustments (including a non-GAAP tax rate and the tax effect of non-GAAP adjustments) from their non-GAAP measures.