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Adobe Posts Strong Earnings; Strong Dollar Affects Outlook

Adobe Systems Inc. (NASDAQ: ADBE) reported fiscal fourth quarter and full-year 2016 results after markets closed Thursday. The software company reported adjusted earnings per share (EPS) of $0.90 on record revenue of $1.61 billion. In the same period a year ago, the company reported adjusted EPS of $0.62 on revenue of $1.31 billion. Fourth-quarter results compare to consensus estimates for EPS of $0.86 and $1.59 billion in revenue.

For the fiscal year Adobe posted adjusted EPS of $3.01 and revenues of $5.85 billion compared with 2015 EPS of $2.08 and revenues of $4.8 billion. Analysts were looking for EPS of $2.98 and revenues of $5.83...