Adobe 4th Quarter Earnings, Outlook Beat Expectations
SAN JOSE (AP) — Software maker Adobe is posting earnings for its latest quarter that exceed analyst expectations, and provides a rosy outlook.
Adobe Systems Inc. earned $269 million, or 53 cents per share, in the fiscal fourth quarter, which ended Dec. 3. In the same period last year, it posted a loss of $32 million, or 6 cents per share, weighed down by tax effects and restructuring costs.
Adjusted earnings were 56 cents per share in the latest quarter, surpassing the average forecast of 52 cents per share among analysts surveyed by Thomson Reuters.
Adobe says revenue jumped 33 percent to $1.01 billion from $757 million last year.
Adobe says it expects to earn between 54 cents and 59 cents per share in the current quarter, excluding items. Analysts were expecting 51 cents.