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Adobe Profit Up After OZ Price Rises

Adobe Profit Up After OZ Price Rises

Adobe Systems has reported a better-than-expected quarterly profit as more customers subscribed to its Creative Cloud monthly package of publishing tools. Revenue in Adobe’s digital media business, its largest by revenue, rose to US$1.21 billion in Q2 from $943 million, beating analysts’ estimates.

The digital media segment includes Creative Cloud, which also includes Web video building application Flash, Photoshop and InDesign for book, magazine and – yes – daily newsletter publishing.

Subscription revenue rose nearly 37 percent to $1.48 billion in the three months ended June 2, after which Adobe put its monthly prices up. Adobe’s shares have risen 53 percent this year.

Net income rose to $374.4 million from $244.1 million a year earlier while revenue jumped 26.7 percent to $1.77 billion, Adobe said.

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