Adobe Systems (NASDAQ:ADBE) shares closed nearly 3% higher on Friday following the company’s reported Q4 results, with EPS of $3.60 coming in better than the Street estimate of $3.50. Revenue was $4.53 billion, in line with expectations.
The solid results with Net New Digital Media ARR above guidance and Street expectations were driven by broad momentum across all segments. Management reiterated its fiscal 2023 targets across the board given the business momentum and long-term digital opportunity that they see, despite macro conditions remaining very uncertain.
The company expects Q1/23 EPS to be in the range of $3.65-$3.70, compared to the Street estimate of $3.64, and revenue in the range of $4.6-4.64 billion, compared to the Street estimate of $4.64 billion.
For the full year, the company expects EPS in the range of $15.15-$15.45, compared to the Street estimate of $15.25, and revenue in the range of $19.1-19.3 billion, compared to the Street estimate of $19.37 billion.