Mike Saviage | VP, IR |
Shantanu Narayen | President and CEO |
Mark Garrett | EVP and CFO |
Adam Holt | MoffettNathanson |
Ross MacMillan | RBC Capital Markets |
Jennifer Lowe | UBS |
Brent Thill | Jefferies |
Alex Zukin | Piper Jaffray |
Jay Vleeschhouwer | Griffin Securities |
Walter Pritchard | Citi |
Kash Rangan | Bank of America Merrill Lynch |
Saket Kalia | Barclays |
Mark Grant | Goldman Sachs |
Sterling Auty | JPMorgan |
Keith Weiss | Morgan Stanley |
Derrick Wood | Cowen and Company |
Good afternoon, ladies and gentlemen. I would like to welcome you to Adobe Systems' First Quarter Fiscal Year 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions].