Adobe Shares Rise on Strong Revenue

 fortune.com  6/20/2017 8:27:29 PM   Reuters
Adobe campus

Adobe Systems reported a 26.7% jump in revenue, the 13th straight quarter of increase, as more customers subscribed to its Creative Cloud package of software tools, which include Photoshop.

The company's net income rose to $374.4 million, or 75 cents per share, in the second quarter ended June 2, from $244.1 million, or 48 cents per share, a year earlier.

Revenue rose to $1.77 billion from $1.40 billion, the company said on Tuesday.

Adobe has been benefiting from a shift to cloud-based subscription services, which have a more predictable revenue stream as opposed to revenue earned through the sale of packaged-licensed software.

Adobe's shares rose 3.5% to $ 145.90 in after-hours trading on Tuesday.

« Go back