Adobe Earnings: ADBE Stock Dropped Despite Q4 Earnings Beat

Adobe earnings (NASDAQ:ADBE) were reported late in the day for the company’s latest period of its fiscal year and its earnings came in ahead of what analysts were calling for, yet ADBE stock fell on a weaker guidance than was expected.

Adobe earningsThe Photoshop maker said that for its fourth quarter of the fiscal year, it brought in GAAP earnings of $1.37 per share, or a non-GAAP profit of $1.83 per share. When excluding the company’s purchase of Marketo at the end of October, it brought in earnings of $1.90 per share.

The figure was stronger than the $1.88 per share that the Wall Street consensus estimate was calling for, according to data compiled by Thomson Reuters. Adobe added that its revenue for the period reached $2.46 billion, or $2.44 billion when excluding the aforementioned acquisition, which is also better than the $2.43 billion that analysts were calling for in the Wall Street guidance.

For its fiscal 2018, the software giant brought in revenue of $9.03 billion, marking a year-over-year revenue growth of 24%. Revenue for its Creative team was up by by $5.34 billion for the year, growing 28% when compared to its fiscal 2017.

ADBE stock declined about 1.6% after the bell on Thursday following the company’s quarterly earnings results, which did see its profit beat what analysts were calling for. Shares had been gaining just over 1% before the end of the day during regular trading hours.

Article printed from InvestorPlace Media,

©2021 InvestorPlace Media, LLC