Adobe Systems Inc, the maker of Photoshop and Acrobat software, forecast current-quarter results below analysts estimates but reported a 22 percent jump in the number of subscribers to its Creative Cloud suite from the preceding quarter. Adobe added 402,000 subscribers for Creative Cloud, which includes Photoshop, Illustrator and Flash, in the fourth quarter, up from the 331,000 it added in the third quarter. Investors are giving Adobes management team credit for its progress despite the light profit to this point, and will likely continue to do so, as long as the number of new cloud subscribers continue to outpace expectations, Edward Jones technology analyst Josh Olson told Reuters. The company said in September it expects subscriber growth for Creative Cloud to top 331,000 due to strong demand from corporate customers.
Adobe’s Creative Cloud subscriber growth impresses investors
13
Dec
2013
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