Design software maker Adobe Inc. (NASDAQ: ADBE) Thursday said that fourth-quarter revenues increased and topped expectations, amid stable demand for its products. Earnings were in line with analysts’ estimates.
At $4.11 billion, fourth-quarter revenues were up 20% from the prior-year period and above the market’s projection. The top-line benefited from double-digit growth in the Digital Media and Digital Experience segments.
Net profit, excluding special items, rose to $3.20 per share from $2.81 per share last year and came in line with the consensus forecast. Unadjusted net income was $1.23 billion or $2.57 per share, compared to $2.25 billion or $4.64 per share in the fourth quarter of 2020.
“Adobe’s record performance in Q4 resulted in fiscal 2021 revenue exceeding $15 billion. Adobe’s vision, category leadership, ground-breaking technology, and large and loyal customer base position us well for fiscal 2022 and beyond,” said Adobe’s CEO Shantanu Narayen.
Adobe’s stock has gained about 30% this year and mostly outperformed the market. The shares dropped early Thursday soon after the earnings announcement.
Stocks you may like:
When online platforms thrived on the unusually strong traffic growth during the shutdown, as home-bound people turned to video-streaming and gaming sites, there was speculation that the trend might reverse
Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ:
Netflix, Inc. (NASDAQ: NFLX) Thursday said it added 8.3 million paid members in the December quarter. Revenues increased and matched estimates, aided by the relaxation of COVID restrictions and resumption