Published on 14 Dec 2023 on Zacks via Yahoo Finance
Adobe (ADBE) Q4 Earnings & Revenues Beat Estimates, Rise Y/Y
Adobe Inc. ADBE released fourth-quarter fiscal 2023 non-GAAP earnings of $4.27 per share, beating the Zacks Consensus Estimate by 3.4%. The figure improved 18.6% on a year-over-year basis.Total revenues were $5.05 billion, which beat the Zacks Consensus Estimate of $5.01 billion. The figure was up 12% on a reported basis and 13% on a constant currency basis from the year-ago quarter.Top-line growth was driven by the strong performances of Adobe Creative Cloud, Document Cloud and Experience Cloud. Accelerating subscription revenues also contributed well.
Growing generative artificial intelligence efforts contributed well.
ADBE has gained 85.5% on a year-to-date basis, outperforming the industry’s growth of 56.2%.