05:51 AM EST, 12/12/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Adobe's (ADBE) shares were down 10% in premarket activity Thursday after the company overnight reported a year-over-year increase in fiscal Q4 earnings and sales but the firm's revenue outlook for the next quarter fell below market expectations.

The company reported fiscal Q4 non-GAAP earnings late Wednesday of $4.81 per diluted share, up from $4.27 a year earlier.

Analysts polled by FactSet expected $4.67.

Revenue in the three months ended Nov. 30 rose to $5.61 billion from $5.05 billion a year earlier. Analysts surveyed by FactSet expected $5.54 billion.

The company expects fiscal Q1 non-GAAP earnings of $4.95 to $5 a share on revenue of $5.63 billion to $5.68 billion. Analysts surveyed by FactSet expect earnings of $4.95 on revenue of $5.72 billion.