Adobe Systems Incorporated Climbs As Earnings Results Top Estimates

Adobe Systems Incorporated Climbs As Earnings Results Top Estimates

Adobe Systems released its latest earnings report after closing bell tonight, posting adjusted earnings of 62 cents per share –2 cents ahead of consensus – and $1.31 billion in revenue (in line with estimates) for its fourth fiscal quarter. In last year’s fourth fiscal quarter, the firm reported earnings of 36 cents per share and $1.07 billion in revenue.

Adobe Systems’ earnings surge

GAAP earnings were 44 cents per share, compared to last year’s 17 cents. Operating income climbed 133%, while net income climbed 153% year over year on a GAAP basis. On a non-GAAP basis, net income climbed 59%. Total sales increased 22% year over year. Cash flow from operations was $455 million, while deferred revenue reached a new record of $1.49 billion. Cost of revenue was $201.4 million.

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“Strong growth across key financial metrics reflect the amazing performance we’ve ac