Digital media and marketing software company Adobe (ADBE) on Wednesday exceeded Wall Street’s targets for its fiscal fourth quarter, but disappointed with its outlook. ADBE stock fell in extended trading.
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The San Jose, Calif.-based company earned an adjusted $4.27 per share on revenue of $5.05 billion in the quarter ended Dec. 1. Analysts polled by FactSet expected Adobe earnings per share of $4.13 on revenue of $5.01 billion. In the year-ago quarter, Adobe earned an adjusted $3.60 per share on revenue of $4.53 billion.
In exchanges outside of business hours on the stock market today, ADBE stock fell nearly 6% to 586.84. During Wednesday’s regular session, ADBE stock slipped 1.5% to close at 624.26.
Details of the revenue report will follow.
ADBE stock is on IBD Large cap 20 And Technology leaders stock lists.
Follow Patrick Seitz on @IBD_PSeitz for more articles on consumer technology, software and semiconductor stocks.
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