Adobe Inc.
ADBEQ3 2024Estimated2% AI
AI Revenue %
2%
AI Fair Value
$1.1B
AI Revenue (Q)
$287.2M
Total Revenue (Q)
$14.4B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2024 (quarter ending Aug 30, 2024). Total revenue $5,408M. Digital Media $3,995M (Creative Cloud $3,188M, Document Cloud $807M), Digital Experience $1,354M. Subscription cost of revenue for Q3 was $413M, down from $447M in Q3 FY2023 despite higher revenue, suggesting AI inferencing costs not yet massively scaling on the cost side. However, Firefly Image 3 model launched, Firefly Video Model in beta, GenStudio for Performance Marketing introduced. AI narrative intensifying but revenue isolation impossible from filings. Conservative estimate: ~2% of total revenue (~$108M).
Analyzed by claude-opus-4-6
Quoted Figures
Digital Media Revenue $3,995M (Creative Cloud $3,188M, Document Cloud $807M); Digital Experience Revenue $1,354M; Total revenue $5,408M
10-Q filed for quarter ending August 30, 2024, Segment Information note
AI Products Identified (Ring 1)
Adobe Firefly (Image 3 model)Firefly Video Model (beta)Acrobat AI AssistantGenStudio for Performance MarketingExperience Cloud AI personalization
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Creative Cloud subscriptionsDocument Cloud subscriptionsExperience Cloud subscriptions
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix