Adobe Shares Climb on Better Than Expected Q2 Results

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Adobe Shares Climb on Better Than Expected Q2 Results

by TheStreet 1:02 mins

Adobe Shares Climb on Better Than Expected Q2 Results

by TheStreet 1:02 mins

Adobe Systems says it earned $0.37 a share as revenue reached $1.07 billion in the second quarter. Adobe ended the first six months of the year with 2.3 million Creative Cloud Subscriptions, adding 464,000 net new subscriptions in the quarter. Leading up to the results, investors have had a positive outlook on the computer software company. Shareholders endorsed Adobe's recent business model shift from a license based to a subscription model with Adobe Creative Cloud. The response to this move was positive despite the initial hit to the company's earnings. The company's recent partnership with Nvidia and adoption of cloud computing proved to be a win. Adobe Marketing Cloud, Adobeâ¿¿s digital marketing tool, had $283 million of sales in the second quarter, up 23% from the same period a year ago.

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