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 billion.

On a GAAP basis EPS totaled $0.80 and did not include $0.17 per share in stock-based compensation, $0.06 per share for amortization of purchased intangibles, and an addition of $0.13  per share for income tax adjustments.

The company’s press release did not offer first-quarter or fiscal year 2017 guidance, but the company has posted both a presentation and a transcript of its comments for the quarterly conference call. Adobe expects first-quarter revenue of $1.625 billion and adjusted EPS of $0.87. The company also expects full-year revenue of about $6.95 billion and adjusted EPS of $3.75. Both sets of estimates have been pulled in slightly due to the recent strength in the U.S. dollar.

The consensus estimates for the first quarter of 2017 call for EPS of $0.85 on revenues of $1.65 billion. For the full 2017 fiscal year, analysts are looking for EPS of $3.83 on revenues of $7.07 billion.

Adobe CEO Shantanu Narayen said:

Adobe’s market-leading digital media and digital marketing solutions are revolutionizing how customers design and deliver exceptional digital experiences. We enter 2017 with significant market momentum and strong technology tailwinds.

Adobe repurchased about 10.4 million shares fiscal 2016, returning about $1.01 billion in cash to shareholders. The company does not pay a dividend.

The company’s shares traded up about 0.3% in after-hours trading, at $105.45, in a 52-week range of $71.27 to $111.09. The consensus price target on the stock is $120.92.

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