Adobe Systems said today that it recorded its first-ever billion-dollar quarter, beating Wall Street's estimates and forecasting a bullish outlook for its first quarter.
For the fourth quarter, the company reported non-GAAP earnings of 56 cents per share, up from a 6 cents per share loss for the same quarter a year ago. Revenue for the fourth quarter was $1.01 billion, a 33 percent jump over the $757.3 million reported a year ago. (Statement)
Wall Street analysts had been expecting earnings of 52 cents per share on revenue of $988.1 million.
For the fiscal year, the company reported earnings of $1.93 per share, up from $1.54 for the previous year. Revenue for the year was $3.8 billion, a 29 percent increase over last year's $2.946 billion.
Read more of "Adobe records first billion-dollar quarter, bullish on outlook" at ZDNet's Between the Lines.