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Adobe Beats Estimates as Demand Surges for Cloud Services

Adobe headquarters in San Jose.

Adobe headquarters in San Jose.

Photographer: Chip Chipman/Bloomberg
Updated on

Adobe Systems Inc. reported profit that topped analysts’ estimates as more customers signed up for its cloud-based services.

Profit, excluding some items, was 66 cents a share in the fiscal first quarter, the San Jose, California-based company said in a statement Thursday. Revenue increased 25 percent to $1.38 billion during the quarter ended March 4. Analysts had projected profit of 61 cents and revenue of $1.34 billion, according to data compiled by Bloomberg.