(Adobe) Shares of Adobe Inc. fell more than 8% on Thursday after guided $17.90 billion FY22 revenue missed expected $18.20 billion.
The guidance miss happens amid a record $4.11 billion revenue in the fourth quarter of 2021, up 20% from the prior year.
In the FY21, Adobe also reported a record $15.79 billion revenue, a 23% increase from the prior year.
GAAP net income was reported at $1.23 billion or $2.57 diluted earnings per share in the fourth quarter and $4.82 billion or $10.02 EPS in the full year 2021.
The company announced it purchased 1.6 million shares in the fourth quarter of 2021, taking the total purchases in the year to 7.2 million.
Adobe projects GAAP earnings per share of between $10.25 and $13.70 in FY22. The EPS is expected in the range of $2.63 and $3.35 in the first quarter of 2022.
Total revenue in the first quarter of 2022 is expected at $4.23 billion.
ADBE: NASDAQ is down -8.82%.
