Adobe Inc. revealed on Wednesday that its total revenue jumped by 12% year on year to reach $5.1 billion in its fourth fiscal quarter of 2023. Fourth-trimester gross profit increased by 11% on an annualized basis and totaled $4.4 billion, with operating income moving 16% up to $1.7 billion and net income improving 26% to $1.5 billion. Diluted net income per share stood at $3.23 after climbing 27% from the same period of fiscal 2022.
For the entire 2023, net revenue was a $19.4 billion record, improving 10% compared to the year 2022. Net income amounted to $5.4 billion in 2023, gaining 14% in comparison to the previous year, while diluted earnings per share increased by 17% to $11.82 in the 12-month period.
"Adobe's strategy, category leadership, ground-breaking innovation, exceptional talent and global customer base position us well for 2024 and beyond," CEO Shantanu Narayen noted. Adobe's shares fell by 6.01% in after-hours trading following the release of the report.
