Adobe's Q4 breaks $2 billion in revenue
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.
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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.