Adobe exceeds profit estimates thanks to Creative Cloud Tools
Adobe Systems Inc. beat the predictions for 2013 first-quarter sales, amassing a $1.01 billion profit. According to analysts, the company’s fiscal success was due to web-software marketing and Creative Cloud subscriptions.
Shantanu Narayen, president and chief executive officer, focused on web and mobile devices’ products and services, changing Adobe’s profile as a developer of computer software. In only three months, 153,000 subscribers were added to Adobe’s Creative Cloud tools, which now include Photoshop, Dreamweaver and Illustrator.
Adobe’s transition towards online sales and marketing has been impressively fast, giving the company a dynamic role in the marketplace. Its shares increased by 7.2 percent and its stock gained 8.1 percent within the year. According to predictions, 2013 will close with profits of about $4.1 billion for Adobe.
Keeping up with the current, Adobe’s next steps would be a revised version of Adobe Marketing Cloud software with touch-screen capabilities, and tailored prices for subscribers.