/>
X
Business

Adobe's Q4 breaks $2 billion in revenue

The Photoshop maker broke a corporate record for quarterly revenue.
Written by Natalie Gagliordi, Contributor on
adobehq.jpg

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.

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.

Editorial standards

Related

The 21 best Black Friday deals under $30 ahead of Cyber Monday
Amazon Fire TV Stick 4K

The 21 best Black Friday deals under $30 ahead of Cyber Monday

The 52 best Black Friday deals on Amazon ahead of Cyber Monday
Image of Amazon Echo Show 8 on a wooden table in front of a person cooking and folding pastry dough.

The 52 best Black Friday deals on Amazon ahead of Cyber Monday

The 62 best Black Friday deals at Costco ahead of Cyber Monday
LG 65" Class - QNED80 Series

The 62 best Black Friday deals at Costco ahead of Cyber Monday