Shares of Adobe Inc. ADBE, +2.52% fell 7% in premarket trading Thursday, after the maker of software for the desktop, web and mobile apps matched profit estimates for its fiscal fourth quarter but offered guidance for fiscal 2022 that lagged consensus. Adobe posted net income of $1.233 billion, or $2.57 a share, for the quarter to Dec. 3, down from $2.250 billion, or $4.64 a share, in the year-earlier period. Adjusted per-share earnings came to $3.20, matching the FactSet consensus. Revenue rose to $4.110 billion from $3.424 billion a year ago, ahead of the $4.087 billion FactSet consensus. Ahead of an analyst day Thursday, the company offered guidance for fiscal 2022, targeting adjusted EPS of $3.70 and revenue of $17.90 billion. The FactSet consensus is for EPS of $14.26 and revenue of $18.20 billion. For the first quarter, it expects adjusted EPS of $3.35 and revenue of $4.23 billion, compared with a FactSet consensus of $3.39 and $4.33 billion. Shares have gained 26% in the year to date, while the S&P 500 SPX, +1.63% has gained 25%.
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