Adobe: Fiscal 4Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Adobe Systems Inc. (ADBE) on Thursday reported fiscal fourth-quarter earnings of $851.9 million.

The San Jose, California-based company said it had net income of $1.74 per share. Earnings, adjusted for one-time gains and costs, were $2.29 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.

The software maker posted revenue of $2.99 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $2.97 billion.

For the year, the company reported profit of $2.95 billion, or $6 per share. Revenue was reported as $11.17 billion.

For the current quarter ending in March, Adobe expects its per-share earnings to be $2.23. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.25.

The company said it expects revenue in the range of $3.04 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $3.08 billion.

Adobe expects full-year earnings to be $9.75 per share, with revenue expected to be $13.15 billion.

Adobe shares have increased 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $305.96, a rise of 25% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADBE at https://www.zacks.com/ap/ADBE