Adobe: Flash, pah. Look, we're doing just fine in the cloud, thank you
Creative cloud users are still rising, says Photoshop op
Adobe has reported better-than-expected earnings for the first quarter of 2015 ahead of what it called are strong financial figures.
The Silicon Valley stalwart reported haul of $1.11bn in revenues and earnings per share of $0.44, well ahead of analysts' $0.39 estimates. Over the quarter customers downloaded 30m apps and piled in $1.18bn of total revenues, and Adobe has five million subscribers to its free services.
"Fiscal 2015 is off to a strong start, and Q1 revenue and earnings are evidence of successful execution against our strategy," Adobe chief financial officer Mark Garrett said in a canned statement.
The quarter brought encouraging news for Adobe in its ongoing quest to move from a focus on installed software to a cloud-based operation. Adobe logged 517 thousand new subscriptions for its Creative Cloud service on the quarter, up 28 per cent on last year, and said that 70 per cent of its revenue was from "recurring sources".
"Adobe Marketing Cloud and Creative Cloud continue to be growth engines for Adobe," beamed president and CEO Shantanu Narayen.
The statement comes on the same day Adobe has released its Document Cloud web service. The hosted file app will allow users to store, modify and share PDF files with contacts.
Adobe said that the service will be online within 30 days with a $14.99 monthly subscription plan. A one-time purchase option will also be available, although Adobe is not giving word on what that will cost. ®