Shares of Adobe in extended-hours trading were gaining 6.09% to $43.23 according to Nasdaq.com. The closed the regular session down 0.75% to $40.75.
Adobe in the quarter ended March 1 earned an adjusted 35 cents per share on $1 billion in sales. Analysts polled by Thomson Reuters expected the San Jose, Cali.f-based company to earn 31 cents per share on $986 million.
"Creative Cloud is quickly becoming mainstream, with the overwhelming majority of Creative purchases on Adobe.com now being Creative Cloud subscriptions," said Shantanu Narayen, president and CEO in a press release. "With Adobe Marketing Cloud, we are the partner of choice for Chief Marketing Officers as we help our customers migrate their businesses online."Adobe is focusing on cloud-based software as the company transitions to a subscription-based business model. The company ended the first-quarter with 479,000 paid Creative Cloud members, an increase of 153,000 year-over-year. Its Marketing Cloud segment generated revenue of $215.4 million revenue, achieving 20% year-over-year growth. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV