Software company Adobe released its fourth-quarter results yesterday after the market closed. The quarterly results themselves beat market expectations, but analysts were not too happy with the annual outlook provided. The stock has gained about 85% since the beginning of the year.

Financial results

Adobe's revenue rose 12% year-over-year to $5.05 billion, beating analyst expectations of $5.02 billion.

The company reported a 16% increase in operating profit to USD 2.34 billion, above market estimates of USD 2.29 billion

The company reported remaining contracted orders (RPOs) of USD 17.22 billion, up 13% y-o-y. Market expectations were USD 16.81 billion.

Research and development spending in the past quarter was $889 million. Research and development was USD 888.9 million, compared to estimates of USD 876.9 million. USD 878 MILLION.

The company repurchased approximately 1.8 million shares in 4Q.