Adobe's fiscal first-quarter earnings and revenue came in at the high end of the company's expectations as it continues to land cloud subscriptions.
The company on Tuesday reported first-quarter earnings of $47.05 million, or 9 cents a share on revenue of $1 billion. Adjusted earnings were 30 cents a share, a nickel better than estimates.
The main takeaway from Adobe is that it added 405,000 Creative Cloud subscriptions from a year ago and has annualized recurring revenue approaching $1 billion for its Creative business.
In a presentation, Adobe CEO Shantanu Narayen said the company's new … Read more