Adobe beat analysts' estimates for quarterly profit and revenue on Tuesday, driven by growth in its digital media business that houses its flagship product Creative Cloud, sending its shares up 4.6% after market.
Adobe is sharpening its focus on the fast-growing cloud business, a fiercely competitive market dominated by Microsoft, Oracle, and Salesforce .com.
In doing so, Adobe, known for its image-editing software Photoshop, partnered with Microsoft in March to bolster its sales and marketing software capabilities.
Salesforce and Microsoft also posted better-than-expected quarterly results on the back of growth in their cloud businesses.
Adobe's shift to a cloud-based subscription has brought a more predictable revenue stream for the company, by selling its software through web-based subscriptions and not through the sale of packaged-licensed software.
On Tuesday, Adobe's executives expressed confidence in the company's ability to raise prices annually for its subscription-based services, while driving volume growth by attracting new users.
Adobe is sharpening its focus on the fast-growing cloud business, a fiercely competitive market dominated by Microsoft, Oracle, and Salesforce .com.
In doing so, Adobe, known for its image-editing software Photoshop, partnered with Microsoft in March to bolster its sales and marketing software capabilities.
Salesforce and Microsoft also posted better-than-expected quarterly results on the back of growth in their cloud businesses.
Adobe's shift to a cloud-based subscription has brought a more predictable revenue stream for the company, by selling its software through web-based subscriptions and not through the sale of packaged-licensed software.
On Tuesday, Adobe's executives expressed confidence in the company's ability to raise prices annually for its subscription-based services, while driving volume growth by attracting new users.
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Sotunde Oluwafemi is the C.E.O & staff writer for Sotuntech Blog, and a technology enthusiast, Web Designer, Student, Writer.
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