Adobe reported fiscal fourth-quarter earnings that exceeded analysts’ expectations.
For the quarter ended Nov. 29, the software behemoth’s adjusted earnings came in at $2.29, compared to the $2.26 expected by analysts polled by FactSet. The figure is also higher than the year-ago quarter’s $1.83.
Revenue climbed +21% to $2.99 billion, also surpassing estimates of $2.97 billion.
For the fiscal first quarter, Adobe expects non-GAAP earnings to come in at $2.23 a share – in line with the FactSet-derived consensus estimate. The company has estimated revenue to be $3.04 billion, compared to analysts’ expectation of $3.09 billion.
Looking ahead, Adobe projects full-year fiscal 2020 adjusted earnings of $9.75 a share, compared to consensus estimate of $9.76. It predicts the year's revenue to be $13.15 billion, close to the consensus estimate of $13.16 billion.
John Murphy, executive vice president and CFO, indicated that the company is bullish about opportunities and ability to continue to deliver strong top- and bottom-line growth.