A Decade of SG&A: Adobe Inc. vs. Nokia Oyj

In the ever-evolving landscape of technology, operational efficiency is paramount. Over the past decade, Adobe Inc. and Nokia Oyj have showcased contrasting trends in their Selling, General, and Administrative (SG&A) expenses. Adobe's SG&A costs have surged by over 230% from 2014 to 2023, reflecting its aggressive growth strategy and market expansion. In contrast, Nokia's expenses have remained relatively stable, with a slight decline of around 10% over the same period, indicating a more conservative approach.

Key Insights

• Adobe's Growth: From 2014 to 2023, Adobe's SG&A expenses increased from approximately $2.2 billion to $6.8 billion, highlighting its focus on scaling operations.
• Nokia's Stability: Nokia's expenses peaked in 2016 but have since stabilized around $3 billion, suggesting a focus on maintaining operational efficiency.

This analysis underscores the strategic differences between these tech giants, offering valuable insights for investors and industry analysts.