Adobe Systems shares jump after-hours on earnings beat

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By Sam Boughedda

Adobe Systems (NASDAQ:ADBE) shares rose in extended trading following its fiscal fourth-quarter financial results that topped earnings consensus expectations.

Adobe shares are currently up 5.3% after a 3.2% decline in the regular session.

The software firm posted adjusted earnings of $3.60 per share on revenue of $4.53 billion, which rose 10% year over year. The company's earnings per share were $0.10 better than the analyst estimate of $3.50, while revenue was in line with consensus expectations.

The San Jose, California-based firm reported record cash flows from operations which came in at $2.33B.

"Adobe drove record revenue and operating income in fiscal 2022," commented Shantanu Narayen, chairman and CEO of Adobe. "Our market opportunity, unparalleled innovation, operational rigor and exceptional talent position us well to drive our next decade of growth."

Looking ahead, fiscal first quarter 2023 revenue is seen from $4.60B to $4.64B, with adjusted earnings per share for the period coming in between $3.65 to $3.70. Adobe sees full-year 2023 revenue coming in between $19.1B and $19.3B, with adjusted earnings per share from $15.15 to $15.45.

The company's guidance doesn't reflect the planned acquisition of Figma, which is expected to close during 2023.