Adobe shares dropped more than 6% in extended trading on Wednesday after the software maker posted a lighter-than-expected forecast for 2024.

Here's how the company did, compared with consensus estimates from LSEG, formerly known as Refinitiv:

• Earnings: $4.27 per share, adjusted, vs. $4.14 expected
• Revenue: $5.05 billion, vs. $5.03 billion expected

Revenue grew almost 12% from a year ago in the fiscal fourth quarter, which ended on Dec. 1, according to a statement. Net income increased 26% to $1.48 billion, or $3.23 per share, rose from $1.18 billion, or $2.53 per share, in the year-ago quarter.

While results for the latest quarters topped estimates, Adobe's guidance for the new fiscal year disappointed Wall Street.

Adobe called for fiscal 2024 earnings per share of $17.60 to $18 on $ $21.3 billion to $21.5 billion in revenue. Analysts polled by LSEG had expected $18 in adjusted earnings per share and $21.73 billion in revenue.

Executives continue to look carefully at spending, Anil Chakravarthy, president of Adobe's experience business htat includes marketing software, said in the earnings call transcript, which was released ahead of the call.

Adobe remains focused on closing the $20 billion Figma acquisition it announced in September 2022. The company said it disagrees with findings from regulators in the European Commission and the U.K. and that it's responding to regulators. The U.S. Justice Department has also been looking into the planned deal.

"While the DOJ does not have a formal timeline to decide whether to bring a complaint, we expect a decision soon," Adobe CEO Shantanu Narayen said in the call transcript.

The guidance does do not factor in any impact from Figma.

Adobe said in a separate regulatory filing that it's been working with the U.S. Federal Trade Commission on an inquiry over cancellation and subscription practices in connection with the Restore Online Shoppers' Confidence Act. The FTC told the company in November that it had the authority to enter into consent negotiations to see if a settlement could be reached, according to the filing. Adobe sees its past behavior as lawful, and said the matter might have a material impact on financial performance.

Prior to the after-hours move, Adobe shares were up almost 86% this year, outperforming the S&P 500 stock index, which has gained about 23%.

Adobe's conference call with analysts begins at 5 p.m. ET.

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