Adobe (ADBE) Beats Earnings And Revenue Estimates In Q4
Zacks Investment Research | Dec 12, 2019 08:44PM ET
Adobe Inc. (NASDAQ:ADBE) reported fourth-quarter fiscal 2019 non-GAAP earnings of $2.29 per share, surpassing the Zacks Consensus Estimate of $2.26. Also, the figure increased 11.7% sequentially and 25.1% on a year-over-year basis.
Adjusted revenues also jumped 21.5% year over year to $2.99 billion, beating the Zacks Consensus Estimate by 0.8%.
This upside was driven by strong demand for the company’s Adobe Document Cloud and Adobe Experience Cloud products, along with growing subscription for cloud application.
Following strong fiscal fourth-quarter results, its shares were up 2.9%. However, shares of Adobe have returned 38.6% in the past year, underperforming the industry 's 39.6% rally.
Top Line in Detail
Adobe reports revenues in three categories — subscription, product, and services & support.
Subscription revenues came in at $2.69 billion (accounting for 89.8% of its total revenues), up 23% on a year-over-year basis.
Product revenues totaled $167.1 million (5.6% of revenues), up 11.1% year over year.
Services & support revenues came in at $138 million (4.6% of revenues), increasing 6.1% year over year.
Adobe Systems Incorporated Price, Consensus and EPS Surprise
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