Jim Cramer Says Cloud Subscriptions Fueling Adobe Revenue
While the rest of the market is dragged down by the collapse of oil, Adobe is defying that trend, up sharply today as it reported very strong quarterly results.
TheStreet's Jim Cramer says while the rest of the market is selling off and being dragged down by the collapse of oil, Adobe is defying that trend, up sharply today as it reported very strong quarterly results. Cramer says if you listen to the conference call you'll see that the company has turned around entirely. He says over the last couple of years they've switched to a cloud-based model of subscriptions and the subscription growth is extraordinary. Cramer says Adobe is the stock to watch to see if the broader market can overcome the problematic oil market. Adobe Systems also announced it has signed a deal to acquire stock photo giant, Fotolia for $800 million in cash.
