Adobe Q3 Beats Street on Bottom Line, Misses Slightly on Top

Adobe Systems posted third quarter earnings of $0.28 a share on revenue of $1 billion. Wall Street analysts were looking for $0.26 a share on sales of $1.02 billion. Last year, the enterprise software company earned $0.32 a share on $995 million in revenue. As for details, Adobe exited Q3 with 2.8 million paid Creative Cloud subscriptions, an increase of 502,000 when compared to the number of subscriptions as of the end of Q2 fiscal year 2014. Adobe Marketing Cloud quarterly revenue was $290 million with strong bookings growth. TheStreet's Gregg Greenberg has details from New York.