SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Wednesday reported fiscal fourth-quarter profit of $1.68 billion.
The San Jose, California-based company said it had net income of $3.79 per share. Earnings, adjusted for one-time gains and costs, were $4.81 per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.66 per share.
The software maker posted revenue of $5.61 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $5.54 billion.
For the year, the company reported profit of $5.56 billion, or $12.36 per share. Revenue was reported as $21.51 billion.
For the current quarter ending in February, Adobe expects its per-share earnings to range from $4.95 to $5.
The company said it expects revenue in the range of $5.63 billion to $5.68 billion for the fiscal first quarter.
Adobe expects full-year earnings in the range of $20.20 to $20.50 per share, with revenue ranging from $23.3 billion to $23.55 billion.
Adobe shares have decreased 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $548.84, a decline of 12% 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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