0
Adobe headquarters in San Jose, California.
Adobe released fourth quarter financial results after the bell on Thursday and once again the Photoshop maker broke a corporate record for quarterly revenue.
The software giant reported fiscal third quarter earnings of $501.5 million, or $1.00 a share. Non-GAAP earnings in the quarter were $1.26 a share on revenue of $2.01 billion, up from $1.84 billion from last quarter and 25 percent from the same period last year.
Wall Street was looking for earnings of $1.16 a share on revenue of $1.95 billion.
For the fiscal year, Adobe said non-GAAP earnings were $4.31 a share on revenue of $7.30 billion. Analysts were expecting earnings of $4.22 a share with revenue of $7.25 billion.
Elsewhere on the balance sheet, Adobe said revenue from its Digital Media unit, which includes Creative Cloud, was $1.39 billion, bringing its annualized recurring revenue to $5.23 billion. Broken out, Creative Cloud revenue was $1.16 billion, and Document Cloud revenue was $235 million.
Adobe said revenue from its Experience Cloud brought in $550 million for the quarter, an increase of 18 percent above last year.
“Adobe delivered record revenue of $2 billion in Q4,” said Adobe CEO Shantanu Narayen. “Our strong business momentum is driven by the market-leading solutions we provide to empower people to create and businesses to digitally transform.”
In terms of guidance, analysts are looking for earnings of $1.24 a share on revenue of $2.04 billion. Adobe responded with a first quarter projection of $1.27 per share with revenue $2.4 billion.
More Tech Earnings
Cloudera satisfies Q3 targets, raises fiscal year guidance
Dell Technologies’ PC, servers, networking revenue strong in Q3
Nutanix beats Q1 expectations with large deals, federal sales
VMware beats Q3 earnings targets as revenue climbs 11 percent
Box Q3 results in line with market estimates
HP grows both PC and printing revenue in Q4
Salesforce delivers strong Q3, ups revenue outlook
Palo Alto Networks reports strong Q1 results, appoints new CFO
Related Topics:
Enterprise Software
Digital Transformation
Data Centers
CXO
Innovation
Storage
0