Adobe Inc. (ADBE) announced an increase in its fourth-quarter profit, surpassing last year's figures and exceeding Wall Street expectations.
The company's net income for this quarter reached $1.68 billion, translating to earnings of $3.79 per share. This is a rise from the $1.48 billion, or $3.23 per share, recorded in the same quarter the previous year.
On an adjusted basis, Adobe reported earnings of $2.13 billion or $4.81 per share for the quarter.
Market analysts, as reported by Thomson Reuters, had anticipated earnings of around $4.67 per share, typically excluding special items from their estimates.
Revenue for Adobe Inc. rose by 11.1% in the quarter, hitting $5.606 billion, up from $5.048 billion in the year-ago period.
Key highlights from Adobe Inc. for the fourth quarter (GAAP):
- Earnings: $1.68 billion compared to $1.48 billion last year.
- Earnings per Share (EPS): $3.79, up from $3.23 last year.
- Revenue: $5.606 billion versus $5.048 billion last year.
Outlook: For the upcoming quarter, Adobe forecasts an EPS in the range of $4.95 to $5.00 and projects revenue to lie between $5.63 billion and $5.68 billion.
The material has been provided by InstaForex Company - www.instaforex.com
The company's net income for this quarter reached $1.68 billion, translating to earnings of $3.79 per share. This is a rise from the $1.48 billion, or $3.23 per share, recorded in the same quarter the previous year.
On an adjusted basis, Adobe reported earnings of $2.13 billion or $4.81 per share for the quarter.
Market analysts, as reported by Thomson Reuters, had anticipated earnings of around $4.67 per share, typically excluding special items from their estimates.
Revenue for Adobe Inc. rose by 11.1% in the quarter, hitting $5.606 billion, up from $5.048 billion in the year-ago period.
Key highlights from Adobe Inc. for the fourth quarter (GAAP):
- Earnings: $1.68 billion compared to $1.48 billion last year.
- Earnings per Share (EPS): $3.79, up from $3.23 last year.
- Revenue: $5.606 billion versus $5.048 billion last year.
Outlook: For the upcoming quarter, Adobe forecasts an EPS in the range of $4.95 to $5.00 and projects revenue to lie between $5.63 billion and $5.68 billion.
The material has been provided by InstaForex Company - www.instaforex.com