Adobe Profit Tops Estimates on Cloud Subscriber Growth
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Adobe Systems Inc., the largest maker of graphic-design software, reported fiscal second-quarter profit that exceeded analysts’ estimates as subscribers signed up for cloud-computing services at a faster clip.
Profit excluding some items for the period through May was 36 cents a share, San Jose, California-based Adobe said in a statement yesterday. That beat the average estimate for 34 cents, according to analysts’ projections compiled by Bloomberg. Sales were $1.01 billion, matching the average estimate.