Reuters: Global Markets: Adobe expects strong corporate demand to boost subscriber growth

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Adobe expects strong corporate demand to boost subscriber growth Sep 17th 2013, 22:50 Tweet Share this Email Print Related Topics Hot Stocks » Asian Markets » Adobe company logos are seen in this picture illustration taken in Vienna July 9, 2013. Credit: Reuters/Leonhard Foeger Tue Sep 17, 2013 4:37pm EDT (Reuters) - Adobe Systems Inc (ADBE.O), known for its Photoshop and Acrobat software, reported an 8 percent drop in quarterly revenue but exceeded its forecast of paid subscriber additions, sending its shares up 4 percent in trading after the bell. The company added 331,000 paid subscribers in the third quarter to Creative Cloud, the subscription-based version of its flagship software package, which includes Photoshop, Illustrator and Flash, ending the quarter with 1.3 million paid subscribers. Adobe said in June it expects the addition to paid subscribers for Creative Cloud in the third quarter to top the 221,000 subscribers it added in the second. Net income fell to $83 million, or 16 cents per share, in the third quarter, from $201.4 million, or 40 cents per share, a year earlier. Excluding items, the company earned 32 cents per share. Revenue fell to $995.1 million from $1.08 billion a year earlier. (Reporting by Sruthi Ramakrishnan in Bangalore,) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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