Adobe Systems Incorporated (NASDAQ: ADBE) posted stronger-than-expected profit for its fourth quarter.
The San Jose-based Adobe reported that, in its fourth quarter of fiscal year 2017, Adobe achieved quarterly revenue of $2.01 billion, which represents 25% year-over-year growth. In fiscal year 2017, Adobe achieved annual revenue of $7.30 billion, which also represents 25% year-over-year growth.
CEO Shantanu Narayen said "Adobe delivered record revenue of $2 billion in Q4. "Our strong business momentum is driven by the market-leading solutions we provide to empower people to create and businesses to digitally transform."
Diluted earnings per share was $1.00 on a GAAP-basis, and $1.26 on a non-GAAP basis. Digital Media segment revenue was $1.39 billion, with Creative and Document Cloud achieving record quarterly revenue of $1.16 billion and $235 million, respectively.
Cash flow from operations was a record $833 million and deferred revenue grew to an all-time high of $2.49 billion. The company repurchased approximately 1.9 million shares during the quarter, returning $297 million of cash to stockholders.
For the full fiscal year, Adobe reported annual GAAP diluted earnings per share of $3.38 and non-GAAP diluted earnings per share of $4.31.
According to CFO Mark Garrett, "Adobe achieved record annual and quarterly revenue, and the leverage in our business model once again drove record profit and earnings. We are raising our fiscal 2018 revenue target and remain bullish about delivering strong top line and bottom line growth."
Adobe reached for the rafters, gaining $2.38, or 1.4%, to $177.38
