Third Party Software

Adobe Doubles Profits on Strength of Subscription Model

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From Reuters:

Adobe Systems Inc (ADBE.O) reported a profit that topped market expectations for the ninth straight quarter on strong subscriber growth for its Creative Cloud package of software tools, which includes Photoshop.

Adobe’s shares jumped 4.7 percent to $93.10 in extended trading on Thursday and are set to hit a record high on Friday.

The company said 833,000 subscribers signed up for Creative Cloud in the fourth quarter ended Nov. 27, more than the 678,200 additions analysts were expecting, according to research firm FactSet StreetAccount.

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