Adobe Inc. reported better-than-expected earnings and revenue in its fiscal 2025 fourth quarter today and also impressed with a forecast ahead of analyst expectations.

For the quarter that ended on Nov. 28, Adobe reported adjusted earnings per share of $5.50, up from $4.81 per share in the same quarter of the previous fiscal year, on revenue of $6.19 billion, up 10% year-over-year. Both figures were ahead of the $5.40 per share and revenue of $6.11 billion expected by analysts.

Adobe’s Digital Media segment saw revenue of $4.62 billion in the quarter, up 11% year-over-year, while Digital Experience revenue came in at $1.52 billion, up 9% year-over-year. The company saw record cash flow from operations of $3.16 billion and as of Nov. 28, Adobe had remaining performance obligations of $22.52 billion, an impressive number from any company.

Key to Adobe’s strong figures was subscription revenue, which was up 12% year-over-year to $5.96 billion, consisting of business professional and consumer subscription revenue of $1.72 billion, up 15% year-over-year and creative and marketing professional subscription revenue of $4.25 billion, up 11%.

Business highlights in the quarter included updates to Adobe’s suite of products in September that included new features in Firefly Boards and Photoshop gaining access to Google LLC’s Nano Banana image generation model.

October started with Adobe launching its first set of artificial intelligence agents with a new set of agentic offerings aimed squarely at marketers in the business-to-business industry. Later in the month, the company also launched Adobe AI Foundry, a service that lets businesses create custom generative AI models and added AI agents to its GenStudio Platform.

For the full fiscal year 2025, Adobe reported adjusted earnings per share of $20.94, up from $18.42 the year prior, on revenue of $23.77 billion, up 11% year-over-year.

“Adobe’s record FY2025 results reflect our growing importance in the global AI ecosystem and the rapid adoption of our AI-driven tools,” Shantanu Narayen, chair and chief executive officer of Adobe, said in the company’s earnings release. “By advancing our innovative generative and agentic platforms and expanding our customer base, we are excited to target double-digit ARR growth in FY2026.”

For its fiscal 2026 first quarter, Adobe expects adjusted earnings per share of $5.85 to $5.90 on revenue of $6.25 billion to $6.3 billion. Analysts had been expecting a revenue outlook of $6.23 billion.

For the full year, the company expects adjusted earnings of $23.30 to $23.50 per share on revenue of $25.9 billion to $26.1 billion. Analysts had been expecting a full-year revenue outlook of $25.89 billion.

Image: Adobe