Despite a drop in net income, Adobe's fiscal first-quarter earnings and revenue has reportedly surpassed the company's expectations as it continues to receive cloud subscriptions.
Adobe's first quarter earnings is reported to be 47.05 million dollars, or 9 cents a share on revenue of 1 billion dollars.
According to Cnet, the company added 405,000 Creative Cloud subscriptions from a year ago and has annualized recurring revenue approaching 1 billion dollars for its Creative business.
Adobe CEO Shantanu Narayen, said during a presentation that the company's new features to its Creative Cloud have been well received.
Meanwhile, Adobe forecasted its second quarter revenue of 1 billion dollars to 1.05 billion dollars with non-GAAP earnings per share of 26 cents a share to 32 cents a share.