Adobe 4Q Earnings, Revenue Rose Ahead of Management, Market Views
December 15 2022 - 04:54PM
Dow Jones News
By Sabela Ojea
Adobe Inc. on Thursday posted higher profit and revenue for the
fiscal fourth quarter, with adjusted earnings beating the forecasts
of analysts and the company itself.
The software maker, which recently agreed to buy design platform
Figma Inc., said net profit for the three months ended Dec. 2 rose
to $1.18 billion, or $2.53 a share, compared with $1.23 billion, or
$2.57 a share, for the prior year.
Stripping out one-time items, the company's earnings came in at
$3.60 a share, beating market views of $2.48 a share, according to
FactSet. Adjusted earnings also came ahead of management
expectations of $3.50 a share.
Revenue increased 10% to $4.53 billion, in line with market
expectations according to FactSet. Revenue also rose ahead of
management expectations of $4.52 billion.
Remaining performance obligations, a measure of future business
that represents contracted revenue that hasn't been recognized,
stood at $15.19 billion at the end of the quarter, it said.
Operating expenses rose 17% to $2.45 billion, the company
said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 15, 2022 16:39 ET (21:39 GMT)
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