Adobe Share: Cloud business brings revenue and revenue growth

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The US software company Adobe has increased profits and sales thanks to strong demand for its cloud services. Revenues increased 24 percent to $ 2.3 billion in the third quarter, the company said Thursday after the close. The profit climbed 59 percent to $ 666.3 million. The numbers were better than expected by analysts.

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Especially the Creative Cloud offer, which includes the popular photo editing software Photoshop among others, was well received by the customers. Adobe has changed its business model from license sales to web subscriptions, resulting in more continuous and predictable revenues.

In after-hours trading, the Adobe shares fell 1.6 percent. The shares have so far this year gained 53 percent in value.

According to insiders, Adobe is currently negotiating an acquisition with cloud marketing specialist Marketo. The acquisition of the business-to-business marketing specialist would help Adobe expand its cloud offering and make it more competitive with Microsoft and Oracle.

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