By Matt Grossman

 

Adobe Inc. Thursday logged a rise in sales in the fiscal fourth quarter, yielding a profit that was in line with analysts' expectations.

The San Jose, Calif.-based software maker posted earnings of $2.57 a share, down from $4.54 a share earlier. Net income declined to $1.23 billion from $2.25 billion.

The company's income before taxes was higher in the latest quarter, with negative tax effects pulling net income below last year's fourth-quarter level.

Stripping out one-time items, Adobe's adjusted earnings were $3.20 a share, in line with the expectations of analysts surveyed in FactSet's poll.

Revenue grew to $4.11 billion from $3.42 billion in the year-ago quarter. Analysts were expecting revenue of $4.09 billion.

Digital media revenue was $3.01 billion, up 21%. Digital experience revenue rose 23% to $1.01 billion.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

December 16, 2021 08:37 ET (13:37 GMT)

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