Categories AlphaGraphs, Earnings, Technology
Earnings: Adobe (ADBE) Q4 earnings beat estimates; guides Q1
Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported higher earnings and revenues for the final three months of fiscal 2022. The bottom line also topped expectations.
Fourth-quarter revenues came in at $4.53 billion, which is up 10% from the year-ago quarter and in line with the market’s projection. The top line benefited from strong growth at the core Digital Media business. The management said it expects first-quarter 2023 revenue to be in the range of $4.60 billion to $4.64 billion.
Adjusted net profit, excluding one-off items, rose to $3.60 per share from $3.20 per share last year and exceeded the consensus forecast. Unadjusted net income was $1.18 billion or $2.53 per share, compared to $1.23 billion or $2.57 per share in the fourth quarter of 2021.
Check this space to read management/analysts’ comments on Adobe’s Q4 results
“Adobe drove record revenue and operating income in fiscal 2022. Our market opportunity, unparalleled innovation, operational rigor and exceptional talent position us well to drive our next decade of growth,” said Adobe’s CEO Shantanu Narayen.
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