Adobe's revenue grows 21% to $2.99B in Q4

Thursday, 12. December 2019 22:06

Adobe Systems Inc. announced on Thursday that its revenue in the fourth quarter of fiscal 2019 amounted to $2.99 billion, surging 21% compared to the same period last year to beat the estimates. Digital Media revenue reached $2.08 billion while creative revenue was at $1.74 billion. The subscription revenue was the major contributor to total revenue as it stood at $2.69 billion.

The computer software maker said its diluted earnings per share stood at $1.74, jumping 27% year-over-year, while the cash flow from operations hit an all-time high, reaching $1.38 billion. Adobe's operating income was up 37% on an annual basis to $969.9 million in the fourth trimester of the fiscal year.

The California-based company achieved record annual revenue of $11.17 billion in fiscal 2019, which represents a 24% year-over-year rise.

The company's stocks jumped in after-hours trading following the earnings release, adding over 3% at 4:26 pm ET.

Related Links: Adobe Inc.
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