Adobe: Fiscal Q4 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Wednesday reported fiscal fourth-quarter profit of $1.48 billion.
The San Jose, California-based company said it had profit of $3.23 per share. Earnings, adjusted for one-time gains and costs, were $4.27 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.13 per share.
The software maker posted revenue of $5.05 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $5.01 billion.
For the current quarter ending in February, Adobe expects its per-share earnings to range from $4.35 to $4.40.
The company said it expects revenue in the range of $5.1 billion to $5.15 billion for the fiscal first quarter.
Adobe expects full-year earnings in the range of $17.60 to $18 per share, with revenue ranging from $21.3 billion to $21.5 billion.
Adobe shares have risen 85% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $624.26, an increase of 82% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADBE at https://www.zacks.com/ap/ADBE