Adobe Systems Inc. Q4 Profit Drops, Inline With Estimates

(RTTNews) - Adobe Systems Inc. (ADBE) announced earnings for fourth quarter that decreased from last year in line with the Street estimates.

The company's bottom line came in at $1.23 billion, or $2.57 per share. This compares with $2.25 billion, or $4.64 per share, in last year's fourth quarter.

Excluding items, Adobe Systems Inc. reported adjusted earnings of $1.54 billion or $3.20 per share for the period.

Analysts on average had expected the company to earn $3.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.2% to $4.11 billion from $3.42 billion last year.

Adobe Systems Inc. earnings at a glance:

-Earnings (Q4): $1.23 Bln. vs. $2.25 Bln. last year. -EPS (Q4): $2.57 vs. $4.64 last year. -Analyst Estimates: $3.20 -Revenue (Q4): $4.11 Bln vs. $3.42 Bln last year.

-Guidance: Next quarter EPS guidance: $3.35 Next quarter revenue guidance: $4.23 Bln