SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Wednesday reported fiscal fourth-quarter earnings of $1.86 billion.
On a per-share basis, the San Jose, California-based company said it had profit of $4.45. Earnings, adjusted for one-time gains and costs, were $5.50 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5.39 per share.
The software maker posted revenue of $6.19 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $6.1 billion.
For the year, the company reported profit of $7.13 billion, or $16.70 per share. Revenue was reported as $23.77 billion.
For the current quarter ending in February, Adobe expects its per-share earnings to range from $5.85 to $5.90.
The company said it expects revenue in the range of $6.25 billion to $6.3 billion for the fiscal first quarter.
Adobe expects full-year earnings in the range of $23.30 to $23.50 per share, with revenue ranging from $25.9 billion to $26.1 billion.
Adobe shares have dropped 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $343.13, a drop of 37% in the last 12 months.
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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
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